Court Denies Gemini and Genesis Motion in SEC Case Over Gemini Earn Program
Federal court denies Gemini and Genesis' motion to dismiss SEC case over Gemini Earn program, finding it offered securities under Howey and Reves tests.

Federal court denies Gemini and Genesis' motion to dismiss SEC case over Gemini Earn program, finding it offered securities under Howey and Reves tests.
Naver and Kakao merge to create Project Dragon Token, a new cryptocurrency set to leverage their extensive user bases. Despite initial challenges, the merger aims to consolidate Asia's blockchain market and inject vitality into the domestic coin industry.
Google's 'Project Ellmann' aims to transform AI experiences, utilizing Gemini's capabilities for an in-depth exploration of users' lives. Despite exciting prospects, the project's release timeline remains uncertain. As Google navigates this uncharted territory, privacy and user benefit are paramount considerations. The potential integration of Ellmann into mainstream Google products, especially Google Photos, hints at a future where AI becomes a personal life narrator.
The Attorney General alleges that these companies engaged in fraudulent activities and attempted to conceal losses amounting to over a billion dollars and lying to over 230,000 investors.
Earlier this year, regulatory authorities in the United States initiated legal action against Gemini and Genesis Global Capital, accusing them of engaging in the trading of unregistered securities via the Gemini Earn crypto asset lending initiative.
The beleaguered Gemini Earn program is now the linchpin in a new set of charges filed by the Securities and Exchange Commission against both Genesis and Gemini.
The leading crypto, Bitcoin, is up by nearly 12% in two weeks, whereas Ethereum is up by almost 20%.
Project Galaxy is the world's largest Web3 credential data network.
The cryptocurrency exchange spent $120,000 on U.S. lobbying in the third and fourth quarters of 2021.