![]() ![]() and its founders, Tyler and Cameron Winklevoss, were sued by investors who claim the crypto asset exchange. If successful, it could lead to tighter regulations surrounding certain aspects of digital asset trading, such as disclosure requirements or customer protections - which could impact investment decisions regarding cryptocurrencies. Joe Schneider In this article 155327Z GEMINI TRUST Private Company Gemini Trust Co. Founded in 2015 by founded by Cameron and Tyler Winklevoss, Gemini is a global digital asset exchange that has a market cap of 26 million. The outcome of this case has profound implications for crypto asset investors and crypto asset exchanges. The plaintiffs are seeking damages for losses that resulted from the alleged misrepresentations. Gemini Exchange’s Earn product has confirmed support for the GUSD stablecoin, with owners of GUSD able to earn 7.4 annual interest. ![]() Compare rates and features on 3 platforms. also offers an interest-earning program that lets you earn interest on over 30 cryptocurrencies and stablecoins. Earn interest on Gemini Dollar up to 7.5 APY. The suit also alleges some investors received no earnings despite following Gemini's instructions. With Gemini Earn, you can lend your crypto to certain institutional borrowers and earn up to 7.4 APY (Annual Percentage Yield) on more than 35 cryptos. The initiative, launched in 2020, lets users earn interest on their crypto holdings and received plenty of attention from the crypto community and media outlets.Īs described in a press release from Kim & Serritella LLP - the law firm that filed the action in the Southern District of New York (SDNY) - the suit claims explicitly that the defendants failed the plaintiffs by not telling them customers' assets were loaned out at below-market rates or used for other types of possibly risky securities transactions. Consumers use the platform to buy and sell digital assets, and one of the company's most popular programs has been Gemini Earn. Fully Regulated Gemini is a fully regulated cryptocurrency exchange in New York and other states. The Winkelvosses, who first gained fame after suing Facebook over its resemblance to an earlier social media site they founded, launched New York-based Gemini in 2014.
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