Three Gemini Earn users have filed a class action lawsuit against Genesis and DCG

According to ChainCatcher, as reported by CoinDesk, three Gemini Earn users have filed a class action arbitration request against Genesis Global Capital and Digital Currency Group in response to Gemini's suspension of its Gemini Earn product plan due to Genesis freezing withdrawals.

The claimants allege that Genesis failed to return the digital assets of Gemini Earn users as required by the main agreement between the company and the users. Furthermore, the lawsuit mentions that Genesis had initially violated the main agreement in the summer of 2022 but concealed its insolvency from customers, and that Genesis engaged in a fraudulent transaction with its parent company DCG to cover up bankruptcy issues. (CoinDesk)