Winklevoss-led Gemini Reaches $1 Billion Settlement with NY Regulator

Wednesday, 28 February 2024, 20:59

Gemini, led by the Winklevoss twins, has agreed to return over $1 billion to customers as part of a settlement with the New York regulator. The deal also includes a $37 million fine. This settlement comes after the Department of Financial Services took action against the troubled crypto firm.
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Winklevoss-led Gemini Reaches $1 Billion Settlement with NY Regulator

Gemini's Billion-Dollar Agreement with NY Regulator

The Winklevoss-led Gemini has reached a significant settlement with the New York regulator, agreeing to return over $1 billion to customers. The deal, which also includes a $37 million fine, signifies a major development in the crypto industry.

Key Points:

  • Return of Funds: Gemini will refund over $1 billion to its customers.
  • Regulatory Compliance: The settlement demonstrates the consequences of non-compliance with financial regulations.
  • Impact on Crypto Market: This news could influence the market sentiment towards cryptocurrencies.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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