Investigation into US Famous Cryptocurrency Exchange According to Sources!

FTXaffected by the bankruptcy of cryptocurrency One of the companies was Gemini.

Geminiafter FTX’s bankruptcy in November Earn stopped withdrawing money from his product.

Gemini also partnered with Earn in February 2021 to deliver up to 8% returns for customers. Genesis He also had some problems with Genesis due to the troubles and later bankruptcy.

After the crisis between the two SECaccused Genesis and Gemini of allegedly selling unregistered securities in connection with a high-yield product offered to depositors.

Gemini, after all the problems he’s been through now New York Department of Financial Services (NYDFS)is being investigated by.

As reported by Coindesk, an Axios report denounces NYDFS’ crypto exchange Gemini’s claims about the security of its clients’ assets. Federal Deposit Insurance Corporation (FDIC) He revealed that he was investigating whether he had insurance.

Because Gemini has repeatedly stated that the assets of customers using the Earn product in the bear market last year are backed by the FDIC and are safe thanks to FDIC insurance.

NYDFS’s investigation of Gemini is based on claims that Gemini’s Earn products do not have FDIC insurance. Because it’s illegal for a financial firm to imply that an uninsured product has FDIC insurance.