Crypto exchange Gemini to pay $1.1 billion back to customers ...Middle East

By Juliana Liu, CNN (CNN) — Gemini Trust, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, will return at least $1.1 billion to customers of its now shuttered lending program, following a settlement with a New York regulator. Gemini will also pay a $37 million fine to the regulator “for significant failures that threatened the safety and soundness of the company,” the New York Department of Financial Services (NYDFS) said in a statement Wednesday. NYDFS has the right to “bring further action against Gemini if the company does not fulfill its obligation,” it said in the statement. Gemini is run by the Winklevoss twins, who are best known for spending years in litiga

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Crypto exchange Gemini to pay $1.1 billion back to customers ...Middle East

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