US SEC has filed charges against Gemini and Genesis

The US SEC is accusing Gemini and Genesis of selling unregistered securities.
Genesis and Gemini did not register their partnership as a lending partnership.
Genesis has been having liquidity issues after FTX’s collapse and has paused withdrawals to date.The US Securities and Exchange Commission (SEC) has filed charges against Genesis and Gemini accusing the two of selling unregistered securities through the Gemini Earn product.
According to the SEC, the Gemini Earn allowed Gemini and Gen