Gemini said it elected to increase its liquidity reserves owing to the market turmoil throughout the summer of 2022, following events such as the collapse of the TerraUSD stablecoin.

Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, is facing a class-action lawsuit over claims that it sold interest-bearing accounts without registering them as securities.

Cryptocurrency exchange Gemini, along with founders Tyler and Cameron Winklevoss, are being sued by investors over the sale of its interest-bearing products.