Who is suing Gemini Trust Company & Genesis Global Capital?

NEW YORK – New York Attorney General Letitia James today filed a sweeping lawsuit against cryptocurrency companies Gemini Trust Company (Gemini), Genesis Global Capital, LLC and its affiliates (Genesis), and Digital Currency Group, Inc. (DCG) for defrauding more than 230,000 investors, including at least 29,000 New Yorkers, of more than $1 billion.

Who sued DCG & Gemini Trust?

James had in October sued DCG, its Genesis Global Capital unit, and Gemini Trust, the exchange run by twin brothers Cameron and Tyler Winklevoss. She claimed they caused more than $1 billion of losses by misleading investors about the Gemini Earn program, which let customers lend crypto assets to Genesis in exchange for a high rate of return.

Did Gemini defraud investors?

In October 2023, Attorney General James filed a sweeping lawsuit against cryptocurrency companies Gemini, Genesis, and DCG for defrauding investors out of more than $1 billion. This suit was the result of an OAG investigation that found that Gemini lied to investors about an investment program it ran with Genesis called Gemini Earn.