Crypto exchange Gemini and its founders charged with fraud

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Financial Associated Press, December 29th, cryptocurrency exchange Gemini Trust Co and its founders Tyler and Cameron Winklevoss were accused of fraud by investors. Investors Brendan Picha and Max J. Hastings filed documents Tuesday in Manhattan federal court alleging that Gemini Trust Co sold interest-bearing accounts that were not registered as securities. The lawsuit revolves around Gemini’s interest-bearing accounts, which Gemini sold to investors through a program called Gemini Earn, in which investors lend Gemini their crypto assets in exchange for high interest rates.

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