Gemini, founded by Cameron Winklevoss and Tyler Winklevoss, had significant exposure to Sam Bankman-Fried’s FTX, the lawsuit alleges|@ChasingBitcoin|via X
New York Attorney General Letitia James filed a lawsuit against major crypto firms, including Gemini Trust, Genesis Global Capital and Digital Currency Group (DCG), alleging they defrauded more than 230,000 investors of $1+ billion.
The lawsuit also accuses Gemini and affiliates of providing false financial documents and claims that Cameron and Tyler Winklevoss’s company had significant exposure to Sam Bankman-Fried’s FTX. James’s office alleges that the firm failed to manage the risks.
Prosecutors seek to permanently bar the firms from New York financial operations and secure restitution for investors.
Gemini has denied wrongdoing and vowed to contest the allegations.