Cryptocurrency firms sued over '$1bn investor fraud' by New York state | Cryptocurrencies
Attorney general Letitia James brings lawsuit against Genesis Global – and parent DCG – and Gemini
Source: theguardian.com
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Winklevoss twins' crypto firm Gemini and rival Genesis are sued by NY AG for 'defrauding 230,000 investors out of $1B by claiming risky investments were safe': Victims included grandma who lost $199,000 life-savings
The lawsuit filed on Thursday focuses on Gemini Earn, interest-bearing product that allowed Gemini users to lend out their crypto assets to Genesis with the promise of high-yields.
Source: dailymail.co.uk
Gemini, Genesis, DCG sued by New York Attorney General
The lawsuit alleges that the companies defrauded over 230,000 investors.
Source: yahoo.com
NY Attorney General sues crypto firms Gemini, DCG
The development underscores the challenges the crypto industry continues to face almost a year after the bankruptcy of Sam Bankman-Fried's exchange FTX, which led to a meltdown in the sector that overwhelmed several major firms. Through the lawsuit, Attorney General James is seeking restitution for investors and "disgorgement of ill-gotten gains," along with a ban on all the three cryptocurrency firms from the financial investment industry in New York.
Source: yahoo.com
Winklevoss twins' crypto business at centre of $1bn fraud case
Train strikes could last another six months as union members back further action.
Source: aol.com