The court found that The Australian Securities and Investment Commission (ASIC) did “not establish that the Finder Earn product is a debenture” and ordered it to hisse the defendant’s costs.
The judge found that the SEC’s complaint “plausibly alleges” that the two crypto firms offered and sold unregistered securities via Gemini Earn.
The pact is tied to the bankruptcy of Genesis Küresel Capital, Gemini’s partner for its Earn program.
Kelp DAO’s newly announced kelp earned points (KEP) token brings liquidity to EigenLayer Points.
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.