Gemini Trust Co. LLC has settled with the NY Department of Financial Services, agreeing to reimburse customers $1.1 billion and pay a $37 million fine over a $1 billion default event from November 2022.

New York Attorney General Letitia James has filed a lawsuit against Gemini, Genesis, and their parent company, accusing them of deceiving investors and concealing over a billion dollars in losses.

Bitcoin is nearing its all-time high, currently trading close to $62,900 with notable gains in both the last 24 hours (3%) and the past week (22%).

Increased Bitcoin trading activity has resulted in a surge in Implied Volatility (IV), leading to rapid market shifts and a Fear Of Missing Out (FOMO) driven rally.

Major investment firms including Wells Fargo, Merrill (Bank of America), and Morgan Stanley are now providing bitcoin ETFs to clients, signaling a broadening institutional adoption of cryptocurrency.