Gemini Trust Company, LLC Securities Class Litigation

Introduction

Securities class action litigation has been filed on behalf of investors who suffered losses from purchasing Gemini Interest Accounts (“GIAs”) and/or investing in the Gemini Earn program (“Gemini Earn”) of Gemini Trust Company, LLC (“Gemini”) from February 2, 2021 through the December 27, 2022, inclusive (the “Class Period).

If you purchased GIAs and lent crypto assets through Gemini Earn during the Class Period, you may move the Court for appointment as lead plaintiff by no later than February 27, 2023.  A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff.  You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

Gemini investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff complete the form below, text or email investorinfo@lchb.com, or call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358.

Background on the Gemini Securities Class Litigation

Gemini, a crypto asset exchange and lending platform headquartered in New York, New York, offered and sold Gemini Interest Accounts (“GIAs”) to investors through Gemini Earn, which allowed investors to lend crypto assets in exchange for interest payments.

When Genesis encountered financial distress as a result of a series of collapses in the crypto market in 2022, including FTX Trading Ltd., Genesis was unable to return the crypto assets it borrowed from Gemini Earn investors.  On or about November 16, 2022, Gemini paused the Gemini Earn program and announced it would not be able to honor participants’ redemption requests within the service agreement timeframe.

The action alleges that Gemini made materially false and misleading statements about GIAs being a safe method for storing crypto assets and collecting interest payments, and omitted and concealed relevant information concerning the risks associated with Gemini Earn, including information regarding the program partner Genesis Global Capital, LLC.  The action also alleges that defendants failed to register Gemini as an exchange and/or broker-dealer, and offered and sold unregistered securities, including GIAs and other crypto assets, on Gemini.

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    My estimated loss from purchasing GIAs and/or investing in the Gemini Earn program between February 2, 2021 and present is:

    Up to $10,000From $10,000 - $50,000From $50,000 - $100,000Over $100,000

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