The New York State Department of Financial Services (DFS) said Wednesday (Feb. 28) that Gemini Trust Company has agreed to return at least $1.1 billion to customers of its Gemini Earn Program. The decision comes in response to Gemini’s failure to conduct due diligence, the DFS said in a...
The New York State Department of Financial Services (DFS) has announced that Genesis Global Trading will pay an $8 million penalty to the state and surrender its BitLicense. These moves come after a DFS investigation found “significant” failings in the company’s anti-money laundering (AML) and cybersecurity programs, the regulator...
Crypto exchange Gemini and venture capital firm Digital Currency Group (DCG) are facing a lawsuit filed by New York Attorney General Letitia James, alleging the companies defrauded customers of $1.1 billion. The lawsuit, filed Thursday (Oct. 19), accuses Gemini and DCG’s Genesis Global Capital unit of not disclosing the risks...
The Securities and Exchange Commission (SEC) has charged two cryptocurrency companies with offering unregistered securities. The complaint charges Genesis Global Capital and Gemini Trust Company and centers on the Gemini Earn crypto asset lending program, through which Gemini and Genesis drew hundreds of thousands of...
May 20, 2024
Cryptocurrency firm Genesis has been banned from operating in New York and will pay a settlement worth $2 billion, the Office of the New York State Attorney General (NYAG) said in a Monday (May 20) press release. This settlement includes the bankrupt firms Genesis Global Capital, Genesis Asia Pacific and Genesis Global Holdco, according to the release. “This historic settlement is a major step toward ensuring […]
February 28, 2024
The New York State Department of Financial Services (DFS) said Wednesday (Feb. 28) that Gemini Trust Company has agreed to return at least $1.1 billion to customers of its Gemini Earn Program. The decision...
January 12, 2024
The New York State Department of Financial Services (DFS) has announced that Genesis Global Trading will pay an $8 million penalty to the state and surrender its BitLicense. These moves come after a DFS...
October 19, 2023
Crypto exchange Gemini and venture capital firm Digital Currency Group (DCG) are facing a lawsuit filed by New York Attorney General Letitia James, alleging the companies defrauded customers of $1.1 billion. The lawsuit, filed Thursday...
