Gemini and NY Attorney General Reach $50M Settlement
Friday, June 14th, 2024 Fraud Legislation & Regulation Litigation TechnologyGemini has reached a $50 million settlement with the New York Attorney General’s office, resolving allegations of defrauding investors. As a result of the settlement, Gemini is prohibited from operating crypto lending programs in New York. The settlement includes the return of $50 million in digital assets to Gemini Earn investors, allowing affected individuals to access their crypto directly in their accounts.
New York Attorney General Letitia James emphasized that the settlement serves as a reminder to cryptocurrency companies about the legal repercussions of misleading investors.
External References & Further Reading
https://blockworks.co/news/gemini-banned-lending-programs-nyag-settlement
