Crypto exchange Gemini not at fault for collapse of Earn lending program, arbitrator says
Gemini Space Station scored a legal victory earlier in August after an arbitrator found the crypto exchange did not mislead users and was not at fault for the collapse of its Earn lending program. The claim was filed in late 2024 by a user of the digital asset firm's lending program Earn. However, there was insufficient evidence that Gemini had lied to its customers or neglected to do due diligence with Genesis Global Capital, its main lending partner, according to the ruling viewed by CNBC. "To succeed in a claim for negligent infliction of emotional distress, a claimant must prove: (i) a breach of a duty owed to the claimant; (ii) emotional harm; (iii) a direct causal connection between the breach and the emotional harm; and (iv) circumstances providing some guarantee of genuineness of the harm," the Aug. 12 ruling said. "In the instant case, Claimant offered no evidence of an actual or perceived threat to his physical safety." Launched in 2021, Earn allowed ...
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