U.S. securities regulators on Thursday charged Genesis Global Capital LLC and Gemini Trust Company LLC for the unregistered offer and sale of securities to retail investors through the companies’ Gemini Earn crypto asset-lending program.
Genesis and Gemini raised billions of dollars’ worth of crypto assets from hundreds of thousands of investors, the Securities and Exchange Commission said. The SEC is also investigating whether other securities law violations were committed and into whether there are other companies or people relating to the alleged misconduct.
This is a developing story.