You have not selected any currency to display
  • Crypto Market
  • Crypto List
  • Converter
  • Crypto Price
The cryptonews hub
  • Currency Prices
  • Crypto Event
  • Trending News
  • Crypto News
    • Bitcoin
    • Ethereum
    • NFT
    • Tech
  • Blockchain
  • Market
  • Sponsored Post
Reading: Gemini to Repay $1.1 Billion to Earn Customers After NYDFS Settlement
Share
The cryptonews hubThe cryptonews hub
Font ResizerAa
  • Trending News
  • Crypto News
  • Blockchain
  • Market
  • Sponsored Post
  • Trending News
  • Crypto News
    • Bitcoin
    • Ethereum
    • NFT
    • Tech
  • Blockchain
  • Market
  • Sponsored Post
Follow US
© 2025 The Crypto News Hub.
The cryptonews hub > Blog > Market > Gemini to Repay $1.1 Billion to Earn Customers After NYDFS Settlement
Market

Gemini to Repay $1.1 Billion to Earn Customers After NYDFS Settlement

Crypto Team
Last updated: December 27, 2024 12:03 pm
Crypto Team
Published: February 29, 2024
Share
Gemin update.thecryptonewshub.com

In a significant development for the cryptocurrency industry, Gemini, a prominent cryptocurrency exchange, has agreed to return at least $1.1 billion to customers who participated in its “Earn” program. This decision comes after reaching a settlement with the New York Department of Financial Services (NYDFS).

The Earn program, launched in 2021, offered users the ability to earn interest on their crypto holdings. However, the NYDFS deemed the program an unregistered security offering, raising concerns about potential investor protection issues.

As part of the settlement, Gemini will not only return the $1.1 billion to affected customers, but also cease offering the Earn program within New York state.

This incident highlights the ongoing regulatory scrutiny surrounding the cryptocurrency industry, particularly concerning practices that might resemble traditional securities.

- Advertisement -

The NYDFS has been at the forefront of regulating the crypto space, and this settlement serves as a reminder for crypto firms to operate within established regulations. It also emphasizes the importance for users to stay informed about the potential risks involved in crypto-related activities, even those offered by established companies.

How to own Free Metaverse Land?
The California DMV Is Putting Its Titles On The Blockchain.
US Securities Watchdog Charges Sam Bankman-Fried With Fraud Over FTX Collapse
Bitcoin Bubble Chart Signals Cooling Without Overheating – Breakout Coming Soon?
Investors Are Buying the Dip as Metaplanet Crosses $1B Bitcoin Holdings: Best Altcoins to Buy
Share This Article
Facebook Email Copy Link Print
Share
Previous Article CoinbaseWordmark update.thecryptonewshub.com Coinbase Users Encounter Errors and Zero Balances
Next Article bitcoinetf update.thecryptonewshub.com Spot Bitcoin ETFs Shatter Records as Institutional FOMO and Halving Hype Collide
Leave a Comment

Leave a Reply Cancel reply

You must be logged in to post a comment.

Follow US

Find US on Socials
FacebookLike
XFollow
InstagramFollow
Trending News
img 6385a10acd7a3 Crypto Blockchain News Of the Day - 29-Nov-2022
Crypto Blockchain News Of the Day – 29-Nov-2022
ukraines financial watchdog reports blocking russian crypto exchanges Crypto Blockchain News Of the Day - 23-JAN-2022
Crypto Blockchain News Of the Day – 23-JAN-2022
Marriages and court cases can be held in the metaverse 696x464 1 Crypto Blockchain News Of the Day - 18-FEB-2023
Crypto Blockchain News Of the Day – 18-FEB-2023
shutterstock_1912078063-gID_2 techturning.com
U.S. Bitcoin ETFs Raise Systemic Risk Concerns, Experts Warn
Blast - update.thecryptonewshub.com
Munchables Web3 Game Hit by $62 Million Hack on Ethereum Layer-2 Blast Blockchain
The cryptonews hub

The Cryptonews Hub brings breaking news on Bitcoin, Ethereum, Ripple, NFTs, DeFi, and blockchain. Get real-time prices, expert analysis, and earn free Bitcoin. Follow for top crypto updates!

Top Insight

Bitcoin Growth Rate Indicator Signals Bullish Continuation – Analyst
July 20, 2025
US Banking Associations Oppose License For Crypto Custody Firms – Details
July 20, 2025
Ad image
© 2025 The Crypto News Hub. Powered by Pantrade Blockchain
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?