NY Attorney General sues crypto firms Gemini, DCG, Genesis for 'fraud'
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.