Gemini to Pay $50 Million to Gemini Earn Investors, Reaches Settlement with New York Attorney General’s Office
According to Bloomberg, cryptocurrency exchange Gemini has reached a settlement with the New York Attorney General's Office over a fraud lawsuit, agreeing to pay $50 million worth of digital assets to Gemini Earn investors. As part of the settlement agreement, Gemini Earn is also prohibited from operating in the state. Gemini said in a statement on Friday that the final distribution of proceeds will arrive in customer accounts within seven days.Previously, New York Attorney General Letitia James sued Gemini in October last year, accusing the platform of misleading investors in the Gemini Earn project, resulting in losses of over $1 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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