Gemini lied about its customers’ deposits being insured with the FDIC

Release time:2023-01-30 08:48 source:Internet Copy link share

According to Axios, the New York Department of Financial Services (NYDFS) has opened an investigation into the cryptocurrency exchange Gemini.In the past year, Gemini has repeatedly claimed that the assets of customers using the Earn service are insured by the Federal Deposit Insurance Corporation (FDIC).However, it turned out to be false.Institutions are prohibited from claiming that their deposits are backed by the FDIC when they are not.
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