Claim BonusBreaking: US SEC Sues Winklevoss Twin’s Crypto Exchange Gemini
As reported by financial time, U.S. SEC today sued crypto trading group Gemini and Genesis. The charges have specifically been filed for Gemini’s earn program that allows crypto traders to earn interest over their deposited crypto tokens. SEC claims that crypto lending scheme offered by Gemini were not properly registered as securities.
Trending: Barry Silbert’s DCG Owes Over $3 Billion To Creditors
Gemini And Genesis Under SEC Scanner
Earlier today, SEC enforcement action announced that Gemini and Genesis group are being sued for not registering their crypto lending program properly as securities. SEC claims that Gemini charged agent fees as high as 4.29% for facilitating the scheme.
During the FTX crisis, Genesis disabled withdrawals citing insufficient liquidation as a result of crypto market crash. Following this investors have not been able to withdraw their funds till date.
Not only this, Gemini Co-founder Cameron Winklevoss and DCG CEO Barry Silbert are already at cross roads. In a recent public outage Gemini Co-founder demanded firing Barry Silbert. DCG group owns Genesis along with media outlet coindesk and investment manager Grayscale.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Universal Exchange Bitget Taps Football Culture to Promote a One-Stop Crypto Trading Experience
- Aster DEX Review – Is It Safe and Legitimate?
- XRP News: Ripple Secures First EMI License in Luxembourg to Boost Payments in Europe
- Top 3 Reasons Why XRP Price Is Surging Today
- Bitcoin Price Reclaims $96K as Bitwise CIO Predicts “Parabolic” Run From BTC ETF Flows
- Robinhood Stock Price Prediction: How High Could HOOD Go Technically in 2026?
- Cardano Price Prediction as Germany’s DZ Bank Gets MiCAR Approval for Cardano Trading
- Meme Coins Price Prediction: What’s Next for Pepe Coin, Dogecoin, and Shiba Inu Amid Market Rally?
- Standard Chartered Predicts Ethereum Price could reach $40,000 by 2030
- Bitcoin Price Eyes $100k as Core US Inflation Slips Ahead of CLARITY Act Markup
- Why Is MSTR Stock Price Down Despite Recent Bitcoin Purchase
