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New York attorney-general Letitia James has sued cryptocurrency companies Gemini Trust Company, Genesis Global Capital LLC and Digital Currency Group Inc...
New York Attorney General Letitia James has sued cryptocurrency companies Gemini Trust Company, Genesis Global Capital LLC and Digital Currency Group Inc...
New York Attorney General Letitia James has sued cryptocurrency companies Gemini Trust Company, Genesis Global Capital LLC and Digital Currency Group Inc...
The lawsuit alleges that the companies defrauded over 230,000 investors.
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.