Nearly a year later, the effects of Sam Bankman-Fried's crypto company's massive collapse
Fill inOn Thursday, the attorney general of New York filed a lawsuit against three digital asset some text
Gemini Trust, Genesis Global Capital, and Genesis' parent business, Digital Currency Group.
The corporations were charged with misleading investors and concealing losses of more than $1 billion.
According to the AG's office, an investigation revealed that Gemini, the cryptocurrency
company established by Cameron and Tyler Winklevoss, misled investors about serious dangers
The program, called Gemini Earn, marketed itself as a low-risk investment in which customers could lend crypto assets
“These cryptocurrency companies lied to investors,” Attorney General Letitia James said in a statement.
At least 29,000 New Yorkers were among the 230,000 investors whose money was lost, James said.
James’ lawsuit is the latest effort among US officials to crack down on the trillion-dollar crypto industry,