NY Attorney General Accuses Crypto Firms of $1B Fraud Scheme
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Letitia James, NY attorney general, accused 3 major crypto firms - Gemini, Genesis, Digital Currency Group - of $1B fraud scheme.
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Suit claims firms lied about risks of Gemini Earn program promising high returns to crypto lenders.
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Genesis froze accounts amid crypto crash, leaving investors unable to access hundreds of millions in crypto.
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Suit alleges Gemini knew Genesis was high-risk but didn't tell investors.
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James seeking to bar firms from operating in NY and wants restitution for investor losses.