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Gemini Earn promised high interest rates to investors who lent crypto assets such as bitcoin to Genesis, a unit of Digital Currency Group, with Gemini taking fees that could exceed 4%.
Gemini Trust Company, LLC (Gemini) is an American cryptocurrency exchange and custodian bank.It was founded in 2014 by Cameron and Tyler Winklevoss. [4] [5] [6]In 2023, the company, along with two others, was sued by the New York attorney general Letitia James under allegations that it had "defrauded" investors by exposing them to undue risk.
Amid the last bull cycle, Gemini, which had largely operated as an exchange, launched its ill-fated Earn program that allowed customers to lend out cryptocurrencies for a yield of up to 13%.
The Commodity Futures Trading Commission alleged Gemini employees misled the agency when the company was evaluating a potential Bitcoin futures contract.
Common services are cryptocurrency wallet providers, bitcoin exchanges, payment service providers [a] and venture capital. Other services include mining pools , cloud mining , peer-to-peer lending , exchange-traded funds , over-the-counter trading , gambling , micropayments , affiliates and prediction markets .
(Reuters) - Cryptocurrency exchange Gemini Trust Co said on Saturday that crypto lender Genesis has filed a motion in U.S. Bankruptcy Court authorizing a sale of trust assets and seeking ...
These are dark days for crypto exchanges with Gemini at the end of a lawsuit and Binance embroiled in more regulatory scrutiny. Gemini Exchange Sued by Retirement Investment Firm Over $36M Hack ...
Gemini Trust, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, will return at least $1.1 billion to customers of its now shuttered lending program, following a settlement with a ...