IDA-backed cryptocurrency firm Gemini faces US fraud lawsuit

Alleged fraud 'yet another example of bad actors causing harm throughout the under-regulated cryptocurrency industry'

Tyler and Cameron Winklevoss with Taoiseach Leo Varadkar and the IDA's Siobhan Hanley. 

Cryptocurrency firm Gemini is being sued by New York’s top law enforcement officer, along with another firm called Genesis Global, for allegedly defrauding customers of $1.1bn (€1bn).

The lawsuit was filed New York attorney general Letitia James. She is accusing the two companies of failing to disclose to investors the risks of a crypto-lending programme they started in 2021.