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.
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Federal court denies Gemini and Genesis' motion to dismiss SEC case over Gemini Earn program, finding it offered securities under Howey and Reves tests.
Explore the latest developments in the complex legal and financial saga of Gemini Earn, Genesis, and DCG as of 2024, including restructuring plans, court rulings, and user reactions.
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.
We’ve now passed the second full week of 2023 and crypto fans’ patience and resilience have been rewarded with the first big price leaps in a long time.
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 move, which Gemini says requires Genesis to return all locked-up assets, sunsets the exchange's nearly two-year-old Gemini Earn program.
Three Gemini Earn users are seeking arbitration in a class action lawsuit against crypto broker Genesis and its parent company Digital Currency Group (DCG).
Claimants allege in a filing that Genesis breached its Master Agreement when it became insolvent in the summer of 2022, while hiding its insolvency from lenders like Gemini.
The leading crypto, Bitcoin, is up by nearly 12% in two weeks, whereas Ethereum is up by almost 20%.
The statement was released in response to reports that Genesis Global and the Gemini exchange have stopped allowing withdrawals.