On January 12, 2023, the Securities and Exchange Commission complained to Gemini Trust Company with the non-registered offer and the sale of securities to private investors through the crypto-asset credit program from Gemini Earn.
As part of the same campaign, the SEC also accused Genesis Global Capital, a subsidiary of the Digital Currency Group, which held about $ 900 million in investor assets of $ 340,000 Gemini Earn customers.
Gemini Earn was closed in January 2023 after Genesis suspended the withdrawals in November 2022.