New York State has recovered $50 million in digital assets from cryptocurrency exchange Gemini Trust to compensate investors deceived by its Gemini Earn program, while also banning the platform from crypto lending.
Earlier, New York Attorney General Letitia James announced a $2 billion settlement with cryptocurrency lender Genesis to compensate for the losses of defrauded investors. The settlement will prohibit Genesis from operating in New York and set up a victim fund, with beneficiaries including more than 29,000 New York residents who invested in Genesis through the Gemini Earn product. (DL News)