Crypto investors sue Winklevoss twins over interest accounts on Gemini
Plaintiffs have alleged that the products have not been registered, which prevented them from receiving disclosures to better assess the risks of using Gemini Earn. 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 in Manhattan federal court, the complaint states that Winklevoss brothers refused to “honor any further investor redemptions” after halting those due to exposure to troubled trading firm Genesis Global Capital. The plaintiffs alleged that the products have not been registered, which prevented them from receiving disclosures to better assess the risks of using Gemini Earn. Launched last year, Gemini Earn platform was designed to generate as much as 8% in interest on their...