Arbitrator Rules Gemini Not Liable for Earn Collapse
An arbitrator ruled Gemini was not at fault or misleading customers in the Earn lending program, finding insufficient evidence of wrongdoing by Gemini in its dealings with Genesis Global Capital; the ruling shifts focus to Genesis and its parent DCG, which are accused of widespread fraud. Earn, launched in 2021, was halted in 2022, with 2024 settlements involving Genesis and creditors and about 97% of assets owed to Earn users later returned; disputes with remaining Earn customers continue alongside other regulatory actions against Genesis and DCG.
