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Gemini Trust Co., which is co-owned by Winklevoss and his twin brother, paused redemptions on an interest-earning product called Earn in mid-November, a week after rival crypto exchange FTX filed for bankruptcy. The product offered investors opportunities to yield as much as 8% interest on their crypto by lending those
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Crypto exchange Gemini is being sued by investors over the sale of its interest-earning crypto products, court filings from Tuesday show. The exchange abruptly halted its Gemini Earn program in November, "effectively wiping out" investors who still had holdings, according to the court filing. The investors say Gemini's Earn program –
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Tyler and Cameron Winklevoss, founders of Gemini cryptocurrency exchange, are reportedly facing a new lawsuit from investors over interest-earning program Gemini Earn.Disgruntled investors have filed a lawsuit against Gemini founders, accusing the firm of fraud and violations of the securities laws, according to a report by Bloomberg.Filed on Dec. 27
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"When Genesis encountered financial distress as a result of a series of collapses in the crypto market in 2022, including FTX Trading Ltd. (“FTX”), Genesis was unable to return the crypto assets it borrowed from Gemini Earn investors," the filing said, adding that after the Gemini Earn program was halted,
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The creditor committee expects to hear from Genesis and DCG by the end of the week. Source
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Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was attempting to recover the funds by creating a creditors committee. 31 days after Gemini paused the Earn program’s withdrawals, Cameron
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On Dec. 14, 2022, the crypto exchange Gemini revealed that some Gemini customers have been the target of phishing attacks that the firm believes stem from a third-party vendor leak. While reports disclosed that Gemini’s leak was approximately “5,701,649 lines of information pertaining to Gemini customers,” Gemini did not disclose
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"The Gemini Spaceship will undergo scheduled Exchange maintenance on Thursday, December 15th from approximately 10:00pm until Friday, December 16th at 12:30am ET," and all user interfaces and trading will be unavailable during that time, a notice on the exchange's status page said. Source
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According to a recent report, the cryptocurrency exchange Gemini suffered from a breach of data and reportedly 5.7 million emails were leaked. While Gemini has stated “some Gemini customers have recently been the target of phishing campaigns,” the exchange insisted that “no Gemini account information or systems were impacted.” Gemini Suffers
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Some users have expressed their displeasure over Gemini’s handling of data stating that the targeted phishing emails appeared weeks before the exchange noticed them.On Wednesday, crypto exchange Gemini announced that a third-party phishing campaign led to the leak of its customer email addresses and partial phone numbers.On Wednesday, crypto publication
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