In the state of New York, where Sam Bankman-Fried, founder of fallen crypto exchange FTX, is standing trial for fraud, the attorney general has accused a further three high-profile crypto businesses of lying to their customers. Crypto exchange Gemini, run by the Winklevoss twins, Cameron and Tyler, as well as crypto lender Genesis and its parent company, Digital Currency Group, have been charged with causing a combined $1.1 billion in losses for hundreds of thousands of investors.
Filed today, the civil lawsuit pertains to a program called Gemini Earn, which was marketed to customers as a safe and secure way to earn interest (as high as 8 percent) on crypto