👉 The New York Attorney General has filed a lawsuit against companies #Gemini , #Genesis , and Digital Money Group, accusing them of defrauding investors of more than $1 billion through false advertising of Gemini's Earn investment product. .
👉 Earn product promises to bring high profits to investors thanks to cryptocurrency loans. However, these companies did not disclose the real risks.
👉 When the cryptocurrency market collapsed, the Earn product lost liquidity, leading to the freezing of investors' funds. Genesis and Gemini were then unable to refund investors as committed.
👉 The New York Attorney General believes that this is consumer fraud and requires companies to compensate victims.