Cryptocurrency exchange Gemini’s Earn users of the program Genesis Global Capital and Digital Currency GroupIt was reported that he filed a class action lawsuit against .
Users of Cryptocurrency Exchange Gemini File a Class Action Claim Against Genesis and DCG
The request comes weeks after Winklevoss’s exchange suspended Earn refunds as a direct result of Genesis freezing withdrawals.
Plaintiffs allege that the terms of Gemini Earn’s articles of association were violated when Genesis allegedly failed to disclose and later concealed its bankruptcy during the summer.
The plaintiffs also claimed that Genesis worked with its parent company, Digital Currency Group, to hide its bankruptcy, and that the collapsed crypto hedge fund Three Arrows CapitalHe claims that .
Furthermore, the plaintiffs believe that Genesis’ articles of incorporation involved the sale of unregistered securities.
Meanwhile, the Winklevoss brothers and Gemini Trust Co. facing a potential collective action complaint on charges of fraud and Exchange Act violations.
“Gemini has marketed GIAs with repeated false and misleading statements, including that GIAs are a safe method to collect interest,” the complaint about Gemini Earn states.
Yesterday Cameron winklevoss‘Fame Digital Currency Group head Barry SilbertThe open letter accusation of using “malicious distraction tactics” and mixing funds raised the issue even more.
*Not investment advice.
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