Bitcoin Billionaires Winklevoss Twins in Trouble with SEC

Gemini and its founders have encountered new challenges. The US Commodity Futures Trading Commission charged Gemini in June 2022 "for making material false or misleading statements' ' as it sought approval for its Bitcoin futures product
The SEC's lawsuit against Gemini and Genesis is part of a larger cryptocurrency crackdown by multiple U.S. government agencies following a sharp drop in cryptocurrency prices last year that exposed mostly retail investors to billions of dollars in losses.
The lawsuit is about a program called Gemini Earn, which allowed people to deposit their cryptocurrencies in exchange for a high interest rate of up to 4.29%. The cryptocurrencies would then be lent out by Gemini and Genesis to other investors.

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