New York State Attorney General Letitia James is suing #cryptocurrency firms #Gemini , #Genesis , and Digital Currency Group (DCG) for alleged fraud. The lawsuit centers on Gemini's Earn program, which was marketed as a low-risk investment opportunity but was found to be risky in an investigation. Genesis is accused of lying about its finances and failing to audit borrowers, causing significant losses. The collapse of Gemini Earn led to approximately $1 billion in losses for consumers, affecting over 230,000 investors. The attorney general is seeking to recover lost funds and ban the companies from operating in New York's financial investment industry. This legal action adds to a series of lawsuits against major players in the cryptocurrency industry.