Gemini Exchange to Return $1.1 Billion to Customers
Gemini Trust, a cryptocurrency exchange, has agreed to return at least $1.1 billion to customers of its defunct lending program and pay a $37 million fine to the New York Department of Financial Services for "significant failures." The exchange will also face further action if it fails to fulfill its obligations. The settlement comes after the collapse of its lending partner, Genesis Global Capital, and amidst legal troubles, including a separate lawsuit filed by New York's attorney general.