Winklevoss Twins’ Gemini Promises to Return $1.1B to Earn Customers in NYDFS Settlement

“In addition to Gemini’s failures related to Earn, the Department’s investigation revealed that Gemini engaged in unsafe and unsound practices that ultimately threatened the financial health of the company,” the press launch mentioned. “Gemini Liquidity LLC, an unregulated affiliate, collected hundreds of millions of dollars in fees from Gemini customers that otherwise could have gone to Gemini, substantially weakening Gemini’s financial condition.”