New York Sues 3 Crypto Companies
Oct, 2023

New York Sues 3 Crypto Companies

The State of New York sued 3 crypto companies in the crypto sector, accusing them for investors’ fraud, with total impact over $1 billion.


The companies seem to participate in this scheme are the Gemini crypto exchange of Winklevoss twins as also the crypto lending company Genesis, along with its parent company, Digital Currency Group.


Unfortunately, the case is still on the verge of FTX collapse, where the above exchanges had exposure through different financial instruments.


The New York General Attorney wrote in her report that the crypto sector is still heavily underregulated, which doesn’t allow any consumer or investor protection from those specific products.


The companies on the other side, stated that will face all those charges and will continue to operate under the law.


The next episode on the courts………


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