According to ChainCatcher, Bloomberg reported that the crypto exchange Gemini reached a settlement with the New York Attorney General's Office on a fraud lawsuit and agreed to pay $50 million worth of digital assets to Gemini Earn investors. As part of the settlement, Gemini Earn was also banned from operating in the state. Gemini said in a statement on Friday that the final profit distribution will reach customer accounts within seven days.
Earlier, New York Attorney General Letitia James sued Gemini in October last year, accusing the platform of misleading investors on the Gemini Earn project, resulting in more than $1 billion in losses.
