Crypto Blog
New York Attorney General Letitia James has taken decisive action against major players in the cryptocurrency industry, filing a lawsuit against Gemini Trust, Genesis Global Capital, and Digital Currency Group .
However, according to the lawsuit, internal risk analyses at Gemini indicated that loans to Genesis were precarious, information allegedly not disclosed to investors. One particularly distressing case outlined in the lawsuit involves a retired 73-year-old grandmother who invested her life savings of $199,000 in Gemini Earn, influenced by the product’s marketing statements. Her losses represent the broader impact on middle-class investors that Attorney General James emphasized.Letitia James has distinguished herself as one of the most assertive U.S. regulators in the cryptocurrency space.
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