Crypto exchange Gemini is being sued by investors over the sale of its interest-earning crypto products, court filings from Tuesday show. The exchange abruptly halted its Gemini Earn program in November, “effectively wiping out” investors who still had holdings, according to the court filing. The investors say Gemini’s Earn program – which offered interest of up to 7.4% to customers for lending their crypto assets – didn’t register those assets as securities in accordance with U.S. law. They are seeking a trial by jury, according to the complaint.
Source: https://www.coindesk.com/markets/2022/12/29/first-mover-americas-gemini-sued-over-interest-earning-product/?utm_medium=referral&utm_source=rss&utm_campaign=headlines