Odaily Planet Daily report: The cryptocurrency exchange Gemini and its co-founders, Tyler Winklevoss and Cameron Winklevoss, have been hit with a class-action lawsuit in New York.
The complaint states that Gemini described itself in its IPO filings as an exchange focused on expanding its user base and international operations, but later shifted to a business model centered on prediction markets, causing its stock price to drop more than 80% from its IPO price of $28 to approximately $6.
The report states that in February, the company announced its推进 of the "Gemini 2.0" prediction market strategy, alongside a 25% workforce reduction and withdrawal from the EU, UK, and Australian markets. That same month, the company’s CFO, COO, and General Counsel all resigned. The plaintiff has requested a jury trial and is seeking damages. (Cointelegraph)