The Winklevoss brothers are facing a class action lawsuit for failing to register their interest accounts as securities.
Investors filed a class action lawsuit accusing the Gemini founders of fraud and violating stock market law.
Winklevoss Twins React From Investors
The complaint filed by investors referred to interest-bearing accounts:
Gemini Trust Earn products were promising returns of up to 8%. Redemptions were also stopped due to liquidity problems in Genesis Global caused by the collapse of FTX last month.
Investors stated that the company did not inform them enough.