Judge Rules Against Gemini, Genesis Motion to Dismiss SEC Case Against Earn Product

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Gemini Earn was first available to retail customers in February 2021, offering as much as 8% interest on crypto tokens invested through the program. According to the SEC’s complaint, Gemini Earn had approximately 340,000 retail users and $900 million in assets on its platform when, in November 2022, Genesis halted withdrawals, citing “withdrawal requests which have exceeded our current liquidity.”

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