SEC and Winklevoss Twins Seek Resolution in Gemini Earn Lawsuit ⚖️
The U.S. Securities and Exchange Commission (SEC) and Gemini Trust's co-founders, Tyler and Cameron Winklevoss, are exploring a potential resolution to the SEC's lawsuit concerning the Gemini Earn program. Both parties have requested a 60-day pause in court proceedings to facilitate discussions, which may lead to a settlement or other outcomes. The lawsuit, initiated in January 2023, alleges that Gemini Earn was offered to retail investors without proper registration, impacting $900 million in assets from 340,000 customers following Genesis Global Capital's bankruptcy in late 2022.
Reuters
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Reuters
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