New York Attorney General Letitia James has filed a lawsuit accusing crypto firms Gemini Trust and Genesis Capital of defrauding 230,000 individual investors out of some $1 billion by claiming risky investments were safe.The lawsuit filed on Thursday focuses on Gemini Earn, interest-bearing product that allowed Gemini users to lend out their crypto assets to Genesis with the promise of high-yield returns.Gemini, known for their legal battles with founder , touted Earn as 'low-risk' even when its internal analyses had found Genesis was on risky financial footing, James alleged.
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