HITS KEEP COMING

Winklevoss Twins Hit With ANOTHER Lawsuit Over Crypto Lending Disaster

The former Olympic rowers are under the microscope as their customers seek to recoup $900 million in investments.

The fallout continues for twin billionaires Tyler and Cameron Winklevoss, as another customer of their crypto exchange, Gemini, has filed a lawsuit seeking class-action status in New York state court over the company’s disastrous lending program, Gemini Earn. The suit, filed on Jan. 29, names both Gemini and the Winklevosses as defendants, and alleges fraudulent inducement, fraudulent concealment, and fraudulent misrepresentation, among other allegations. The trouble at Gemini, ignited by the downfall of rival exchange FTX, centers on its previous promotion of Earn, which claimed that customers could earn returns as high as 7.4 percent by depositing their crypto assets into the program. Some former employees told The Daily Beast that Earn’s terms and conditions were always highly dubious. Gemini has sought to cast blame on its former lending partner, Genesis. Representatives for Gemini did not immediately respond to a request for comment.