The U.S. Securities and Exchange Commission (SEC) announced on Thursday, January 12 it had filed charges against Genesis Global Capital LLC and Gemini Trust Company LLC. The charges bordered on the illegal sale of unregistered securities to numerous investors through a crypto lending program.
Tyler Winklevoss, a co-founder of Gemini, reacted to the announcement. In his opinion, the Securities and Exchange Commission (SEC) lawsuit will reduce the chances of users receiving their funds. Winklevoss reacting on Twitter, labeled the lawsuit as “rather disappointing.”