Crypto Exchange Gemini Discussing Resolution of $900,000,000 Lawsuit With SEC
The crypto exchange founded by billionaire twins Cameron and Tyler Winklevoss may soon witness the end of its legal dispute with the U.S. Securities and Exchange Commission (SEC) over its now-defunct cryptocurrency asset lending program.
In January 2023, the securities regulator filed a lawsuit claiming that Gemini and cryptocurrency lender Genesis Global Capital violated securities laws through the Gemini Earn program, which allowed participants to lend their crypto assets to earn interest payments.
The SEC filed the suit shortly after Genesis halted withdrawals in November 2022 with approximately $900 million in user funds.
In a letter submitted to the U.S. District Court for the Southern District of New York on Tuesday,…
