According to Bloomberg, the crypto exchange Gemini has reached a settlement with the New York Attorney General's Office over 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 distribution of proceeds will reach customer accounts within seven days.
Foresight News previously reported that 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 losses of more than $1 billion.
