Express

Gemini Pays $50 million To Settle Fraud Charges, Banned From Operating Crypto Lending Business in NY

Mary Liu

Summary: Crypto exchange Gemini Trust has agreed to pay $50 million to settle a lawsuit by the New York Attorney General alleging that the company defrauded investors. The New York Attorney General said the settlement allows "all defrauded investors to fully recover the assets they invested in the Earn program but were unable to withdraw when ...

Crypto exchange Gemini Trust has agreed to pay $50 million to settle a lawsuit by the New York Attorney General alleging that the company defrauded investors.

The New York Attorney General said the settlement allows "all defrauded investors to fully recover the assets they invested in the Earn program but were unable to withdraw when the investment program collapsed."

As part of a settlement with the New York Attorney General, Gemini was banned from operating any crypto lending program in New York.

  • Ethereum All Core Developers Execution Call #192 Writeup 2 days ago
  • The Product Gap in Blockchain: Shifting Focus from Infrastructure to User-Centric Appli... 4 days ago
  • What Would a Trump Presidency Mean for Bitcoin? 5 days ago
  • Google’s move on Wiz: a cybersecurity game-changer, or another pointless splurge? 7 days ago
  • The Risks and Rewards of Staking 7 days ago
  • You need to login to comment.