Gemini to return $1.1 bln to customers, pay fine in regulatory ...

Feb 28, 2024 · Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe and unsound practices as part of a settlement ...

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Gemini To Return $1.1 Bln To Customers, Pay Fine In Regulatory ...

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Gemini Crypto Exchange To Return $1.1 Billion To Consumers, Pay …

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Feb 29, 2024 · Gemini Trust Company, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, will return $1.1 billion to customers of its now-defunct Earn loan program in …

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Gemini To Return $1.1 Billion To Customers, Pay Fine In Regulatory ...

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Feb 28, 2024 · (Reuters) -Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe and unsound …

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Crypto Exchange Gemini To Return $1.1 Billion To Customers In …

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New York’s financial regulator said Gemini Trust has agreed to return at least $1.1 billion to users of the cryptocurrency exchange’s Earn investment program and to pay about $37 million in ...

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Gemini To Pay $37 Million Fine, Return Over $1 Billion To Earn ...

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Feb 28, 2024 · Crypto exchange Gemini agreed to pay a hefty fine to a New York financial regulator over compliance failures and has to return at least $1.1 billion to Gemini Earn lending …

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Gemini To Return $1.1b To Customers, Pay Fine In Settlement

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Feb 29, 2024 · Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe and unsound practices as …

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Gemini Agrees To $37M Fine And $1B Customer Repayment After …

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Feb 29, 2024 · The settlement includes an imposing fine of $37 million over compliance failures and the compulsory return of a mammoth $1.1 billion to Gemini Earn lending program …

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Gemini To Return More Than $1.1B To Earn Customers

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Feb 29, 2024 · Gemini Trust will return at least $1.1 billion to customers of its Gemini Earn program through the bankruptcy proceeding of crypto lender Genesis Global Capital, with …

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Crypto Exchange Gemini To Return $1.1 Billion To Customers, Pay …

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Feb 29, 2024 · Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe and unsound practices as …

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Gemini Settles With NY Regulators, Will Return $1B To Earn …

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Feb 28, 2024 · The firm will “return at least $1.1 billion” to customers of the Gemini Earn Program through the Genesis bankruptcy proceeding. “In furtherance of that commitment, Gemini will …

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Gemini To Reimburse $1.1 Billion To Users Amid Regulatory …

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Feb 29, 2024 · As part of the settlement, Gemini will contribute $40 million to the GGC bankruptcy estate, in coordination with the Bankruptcy Court, to facilitate the return of assets to Earn …

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Gemini To Return $1.1 Billion To Customers, Pay Fine In Regulatory ...

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Feb 29, 2024 · (Reuters) -Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe and unsound …

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Gemini To Return $1.1 Billion To Customers After Regulatory …

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Feb 28, 2024 · 😲 Gemini agreed to pay a $37 million fine and return over $1 billion to Earn customers as part of a settlement with the NY regulator over issues with Genesis Global …

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Gemini To Return $1.1 Billion To Customers, Pay Fine In Settlement …

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Feb 28, 2024 · By Hannah Lang (Reuters) – Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe …

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Gemini To Return $1.1 Bln To Customers, Pay Fine In Regulatory ...

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Feb 29, 2024 · Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe and unsound practices as …

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Gemini To Return $1.1 Bln To Customers, Pay Fine In Regulatory ...

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Feb 28, 2024 · Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe and unsound practices as …

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FAQs about Gemini to return $1.1 bln to customers, pay fine in regulatory ... Coupon?

Why did Gemini pay a $37 million fine?

Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe and unsound practices as part of a settlement with the New York Department of Financial Services (NYDFS), the regulator said on Wednesday. ...

Will Gemini pay a $37 million fine for a defunct lending program?

Feb 28 (Reuters) - Cryptocurrency exchange Gemini will return at least $1.1 billion to customers of its defunct lending program and pay a fine of $37 million for unsafe and unsound practices as part of a settlement with the New York Department of Financial Services (NYDFS), the regulator said on Wednesday. ...

Does Gemini have a 'compliance' with its Earn program?

The NYDFS claims Gemini, which is owned by twins Tyler and Cameron Winklevoss, had “compliance, management, and internal audit issues” when it came to managing its Earn program. Introduced in 2021, Gemini’s Earn program let customers loan their cryptocurrency to the crypto brokerage Genesis Global Capital while receiving interest. ...

Why did Gemini pay $37 million to NYDFS?

The cryptocurrency exchange Gemini has promised to return $1.1 billion to customers as part of a settlement it reached with New York’s Department of Financial Services (NYDFS). Gemini will also have to pay $37 million to the NYDFS “for significant failures that threatened the safety and soundness of the company.” ...

Will Gemini's earn customers be able to access the money?

The settlement means that Gemini's Earn customers may soon be able to access those funds. NYDFS said on Wednesday that it retains the right to bring further action against Gemini if the company does not fulfill its obligation to return at least $1.1 billion to customers following the resolution of Genesis' bankruptcy. ...

What happened to Gemini's Earn program?

Gemini's Earn program, which was offered in partnership with crypto lender Genesis Global Capital, was halted during a crypto market crash in November 2022. That dislocation caused Genesis to file for bankruptcy, and has led to extensive litigation between Genesis, Gemini and Genesis's parent company, Digital Currency Group (DCG). ...