Crypto Exchange Gemini to Pay $50 Million in NY Fraud Suit (2)

A crypto exchange that was accused of lying to hundreds of thousands of customers about the risks tied to a failed investment program agreed to return $50 million of digital assets to resolve a suit by New York Attorney General Letitia James.

Gemini Trust Co. struck the deal Friday with James, who sued in October over the company’s handling of the program, Gemini Earn. It’s the latest deal in a series of crypto investigations that included a probe into Barry Silbert’s Digital Currency Group.

Under the Gemini settlement, digital assets will be returned to investors who ...