Gemini Trust Co. returns $1.1B to customers, faces $37M fine for compliance failures related to Genesis Global Capital partnership.
Gemini Trust Co., founded by the Winklevoss twins, will return $1.1B to customers who lost money through its Earn program in conjunction with bankrupt lender Genesis Global Capital. The NYDFS has imposed a $37M fine on Gemini for various compliance failures, including failing to conduct due diligence on Genesis. This settlement is part of ongoing efforts by governmental agencies to clean up the crypto industry.
February 28, 2024
16 Articles