{"id":532211,"date":"2022-12-29T04:36:00","date_gmt":"2022-12-29T01:36:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-crypto-investors-sue-gemini-winklevoss-twins-for-fraud-over-interest-earning-accounts\/"},"modified":"2022-12-29T04:36:00","modified_gmt":"2022-12-29T01:36:00","slug":"crypto-crypto-investors-sue-gemini-winklevoss-twins-for-fraud-over-interest-earning-accounts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-crypto-investors-sue-gemini-winklevoss-twins-for-fraud-over-interest-earning-accounts\/","title":{"rendered":"#Crypto: Crypto investors sue Gemini, Winklevoss twins for fraud over interest-earning accounts"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a240a467135d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a240a467135d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-crypto-investors-sue-gemini-winklevoss-twins-for-fraud-over-interest-earning-accounts\/#%E2%80%9CCrypto_Crypto_investors_sue_Gemini_Winklevoss_twins_for_fraud_over_interest-earning_accounts%E2%80%9D\" >&#8220;Crypto: Crypto investors sue Gemini, Winklevoss twins for fraud over interest-earning accounts&#8221;<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-crypto-investors-sue-gemini-winklevoss-twins-for-fraud-over-interest-earning-accounts\/#Mike_Murphy\" >Mike Murphy<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCrypto_Crypto_investors_sue_Gemini_Winklevoss_twins_for_fraud_over_interest-earning_accounts%E2%80%9D\"><\/span>&#8220;Crypto: Crypto investors sue Gemini, Winklevoss twins for fraud over interest-earning accounts&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001517090\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001517090\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Crypto exchange Gemini Trust Co. and its founders, twins Tyler and Cameron Winklevoss, are being sued by investors for fraud.<\/p>\n<p> In <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.courtlistener.com\/docket\/66684630\/1\/picha-v-gemini-trust-company-llc\/\" class=\"icon none\">a filing<\/a> Tuesday in federal court in Manhattan, investors Brendan Picha and Max J. Hastings alleged the company sold interest-bearing accounts without registering them as securities.<\/p>\n<div class=\"paywall\">\n       The case revolves around Gemini interest accounts that the company sold to investors through a program called Gemini Earn, in which investors lent Gemini crypto assets in exchange for high interest payments.<\/p>\n<p>According to the suit, \u201cGemini marketed GIAs with repeated false and misleading statements, including that GIAs were a secure method of collecting interest.\u201d The company halted the program Nov. 16 after crypto platform FTX filed for bankruptcy, \u201cand refused to honor any further investor redemptions, effectively wiping out all investors who still had holdings in the program, including Plaintiffs.\u201d<\/p>\n<p><strong>Read more: <\/strong>Even the Winklevoss twins aren\u2019t immune to the crypto crisis, with $900M of their customers\u2019 money frozen in wake of FTX collapse<\/p>\n<p>FTX\u2019s meltdown caused a liquidity crisis for Gemini, as well as Genesis Trading, which served as Gemini\u2019s borrower in the program.<\/p>\n<p><strong>Also:<\/strong>\u00a0Genesis meltdown: Why investors are worried about bigger problems for crypto<\/p>\n<p>The suit claims that if the products has been registered as securities, investors would have been better <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>rised of their risks.<\/p>\n<p>\u201cGemini\u2019s actions have led to significant financial losses for its investors,\u201d said the suit, which is seeking class-action status. The investors are seeking damages, restitution and \u201cother statutory and equitable relief\u201d from Gemini.<\/p>\n<p>On the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gemini.com\/earn\" class=\"icon none\">Gemini Earn website<\/a>, a message dated Tuesday reads: \u201cWe continued to work through the Christmas holiday towards a resolution. We expect a more fulsome update by the end of this week.\u201d<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mike Murphy\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/author\/mike-murphy\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/mmmmurf\",\"text\":\"@mmmmurf\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"mailto:mmurphy@marketwatch.com\",\"text\":\"mmurphy@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mike_Murphy\"><\/span>Mike Murphy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"142_MW\" author-name=\"Mike Murphy\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fcrypto-investors-sue-gemini-winklevoss-twins-for-fraud-over-interest-earning-accounts-11672277799%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C06575-04D4-B545-7172-622A4ADB414F%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Crypto: Crypto investors sue Gemini, Winklevoss twins for fraud over interest-earning accounts&#8221; Crypto exchange Gemini Trust Co. and its founders, twins Tyler and Cameron Winklevoss, are being sued by investors for fraud. In a filing Tuesday in federal court in Manhattan, investors Brendan Picha and Max J. Hastings alleged the company sold interest-bearing accounts without&#8230;<\/p>\n","protected":false},"author":1,"featured_media":532212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-693825\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-532211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/532211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=532211"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/532211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/532212"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=532211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=532211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=532211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}