S.E.C. Charges Winklevoss Twins’ Crypto Companies With Offering Unregistered Securities

On Thursday, the Securities and Exchange Commission (S.E.C.) charged Genesis Global Capital and Gemini Trust, run by Cameron and Tyler Winklevoss, with offering unregistered securities. According to a New York Times report, the “Gemini Earn” program promised investors would profit from high interest on deposits — but it was never registered with the agency.Genesis is part of the Digital Currency Group, while the Winklevosses run Gemini. In a statement quoted by the Times, S.E.C. chair Gary Gensler said the companies