New York’s attorney general has filed a lawsuit against crypto companies, including the Winkelvoss twins’ Gemini, alleging they misled investors.
Filed today, the civil lawsuit pertains to a program called Gemini Earn, which was marketed to customers as a safe and secure way to earn interest on crypto holdings. The assets committed by Gemini customers were pooled and handed off to crypto lender Genesis, which loaned them out to large institutions and returned a cut of the profits.
” Gemini did not return a request for comment, but in a post on X, formerly Twitter, said it “looks forward to defending ourselves” against the lawsuit. Neither Genesis nor DCG returned requests for comment. The lawsuit filed against the trio is the latest in a line of civil cases brought against crypto companies in the US this year.
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