Winklevoss Twins' Gemini to Pay $1.1 Billion to Customers After NYDFS Settlement

Gemini, a cryptocurrency exchange, has agreed with the New York Department of Financial Services (NYDFS) to reimburse customers of its discontinued lending program with at least $1.1 billion. Additionally, the company will pay a fine of $37 million for what regulators described as significant failures. Settlement with NYDFS Geminis Earn program was halted amidst a cryptocurrency market crash in November 2022. The exchange, co-founded by twins Tyler and Cameron Winklevoss, was embroiled in controversy as the NYDFS accused it of negligence in vetting a third-party entity, Genesis...


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