America’s largest law firm asks Gemini victims to take action
The law firm Rosen has reminded Gemini victims to come forward and join the lawsuit against Gemini and its founders over the failed Earn product before the lead plaintiff deadline of February 27, 2023.
Rosen pays Gemini win investors
After it filed a class-action lawsuit against cryptocurrency exchange Gemini and its founders Tyler and Cameron Winklevoss earlier this month over the company’s alleged concealment of risks in their Earn software, thereby exposing investors to serious financial risk, Rosen reminded the affected people to come forward and take action to file a lawsuit. Lead Plaintiff before the February 27 deadline.
Gemini is still going through tough times, as its stablecoin, GUSD, is currently on the verge of a free fall.
“A class action has already been filed. If you wish to serve as lead plaintiff, you must move court no later than February 27, 2023. The lead plaintiff is a representative party acting on behalf of the other class members in directing the litigation.”
Gemini is gradually falling apart
Since the scandalous crash of Sam Bankman Fried’s FTX crypto exchange last November, things have completely fallen apart for the once-prosperous Gemini empire, due to the latter’s massive indirect exposure to the now-defunct exchange.
As crypto.news reported earlier this month, the US Securities and Exchange Commission (SEC) has indicted Genesis Exchange and Gemini for offering unregistered securities, leading to the conviction of Tyler Winklevoss.
Earlier today, reports emerged that cryptocurrency exchange OKX had delisted the stablecoin GUSD from Gemini after a severe negative volatility led to the asset losing parity with the US dollar to trade at around $0.98.
At the time of writing, GUSD has crashed to 72nd place on CoinMarketCap’s 100 Largest Crypto Assets table, with a market capitalization of $607 million. The price of the stablecoin GUSD continues to fluctuate between the $0.98 to $1 region and it is still unclear if stability will return to the token soon, considering the endless hurdles for the parent company.