Gemini Trust Company, a cryptocurrency exchange helmed by the infamous Cameron Winklevoss and Tyler Winklevoss, just got hit with a lawsuit alleging that it defrauded investors. The suit was brought forth by New York Attorney General Letitia James, the same AG currently prosecuting former president Donald Trump on sweeping charges of fraud.
This isn’t solely directed at Gemini, as cryptocurrency firms Digital Currency Group (DGC) and Genesis Global Capital are also named in the suit. All told, the civil lawsuit alleges that the three companies collectively defrauded 230,000 investors to the tune of more than $1 billion, as reported by Axios. The AG also charged former Genesis CEO Soichiro "Michael" Moro and DCG founder and chief Barry Silbert for trying to conceal the true financial condition of its lending unit.
As for the Winklevoss twins and Gemini, the suit alleges that the digital asset platform didn’t properly disclose the financials of Genesis before partnering with the crypto exchange to f
