New York Attorney General Letitia James is suing three cryptocurrency companies — Gemini, Genesis, and Digital Currency Group — over claims they misled investors, leading to the loss of over $1 billion. In a lawsuit filed on Thursday, James says their alleged fraudulent schemes affected over 230,000 investors. The lawsuit targets Gemini, the crypto exchange owned by Cameron and Tyler Winklevoss, and its Earn program.
Additionally, James is suing Genesis and its DCG parent company for allegedly trying to cover up over $1 billion in losses. James is seeking to ban Gemini, Genesis, and DCG from the investment industry in New York. She also wants the firms to “pay damages, restitution, and disgorgement of all funds and cryptocurrencies” that they earned as part of their alleged schemes.
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