Crypto firms Genesis and Gemini charged by SEC with selling unregistered securities
In this article BTC.CM= FTT.CM= COIN Follow your favorite stocks CREATE FREE ACCOUNT SEC chairman Gary Gensler testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on Sept. 14, 2021 in Washington. Evelyn Hockstein-Pool/Getty Images The Securities and Exchange Commission on Thursday charged crypto firms Genesis and Gemini with allegedly selling unregistered securities in connection with a high-yield product offered to depositors. Gemini, a crypto exchange, and Genesis, a crypto lender, partnered in February 2021 on a Gemini product called Earn, which touted yields of up to 8% for customers. related investing news Here’s what bank stock investors need to know ahead of fourth-quarter earnings Hugh Son 7 hours ago From the Shanghai upgrade to U.S. regulation: Watch these 5 events to see where crypto markets are heading in 2023 Tanaya Macheel a day ago According to the SEC, Genesis loaned Gemini users' crypto and sent a portion of the profits back to Gemini, w...