Crypto Giants Gemini, Genesis, DCG Face $1 Billion Lawsuit: New York’s Crackd...
The New York Attorney General, Letitia James, has set her sights on three major players in the crypto space, alleging investor fraud. Genesis Global, its parent company, Digital Currency Group (DCG), and the renowned crypto platform Gemini find themselves in the crosshairs of a significant lawsuit. Attorney General James accuses them of deceptive practices that have allegedly […]
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Gemini, the crypto exchange founded by the Winklevoss twins, has reached a settlement with the US Securities and Exchange Commission (SEC) concerning allegations related to its crypto lending program, known as Gemini Earn. The settlement was announced on Monday in a letter filed in Manhattan federal court. SEC Lawsuit Against Gemini Nears Resolution The SEC, […]
An FTX trust has initiated legal action against Genesis Digital Assets, seeking to recover $1.15 billion that it alleges was fraudulently transferred by Sam Bankman-Fried (SBF), the co-founder of the now-defunct cryptocurrency exchange. The lawsuit, filed in the US Bankruptcy Court for the District of Delaware, targets Genesis Digital, its affiliates, and co-founders Rashit Makhat […]
In a recent development, bankrupt crypto lender Genesis has settled with defunct crypto hedge fund Three Arrows Capital (3AC), ending a months-long legal battle. According to court documents, Genesis will pay $33 million to resolve the more than $1 billion in claims asserted by 3AC against the Genesis Debtors. Genesis Resolves Dispute With 3AC The […]
Another class-action lawsuit has been filed against Ripple Labs and CEO Brad Garlinghouse. This lawsuit follows the one filed by the U.S. Securities and Exchange Commission (SEC) alleging that the defendants sold XRP, which it considers unregistered security, for over $1.38 billion. The lawsuit, filed Monday in a Florida district court alleges that the “sale of XRP cryptocurrency tokens to Florida residents” violates Florida securities laws. The suit names Ripple Lab Inc., XRP II LLC, and Garlinghouse as the defendants. They have allegedly sold “millions of dollars (or....
Gemini’s new interest-earning program allows customers to earn interest on 26 crypto assets supported by the platform. Gemini cryptocurrency exchange has launched an interest-earning program for customers in the United States.Dubbed Gemini Earn, the program lets customers earn up to 7.4% annual interest on all cryptocurrencies supported by Gemini, the firm announced Tuesday. The platform supports 26 cryptos like Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Zcash (ZEC) and others. The program is immediately available for select Gemini customers, while a full-scale rollout....