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Letitia James

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NY AG Secures $5M+ Settlement From Uphold Over Fraudulent Crypto Product Promotion
NACHRICHT
03.05.2026KI-Zusammenfassung

NY AG Secures $5M+ Settlement From Uphold Over Fraudulent Crypto Product Promotion

New York Attorney General Letitia James has secured over $5 million from cryptocurrency platform Uphold for promoting CredEarn, a fraudulent investment product offered by Cred, LLC. Between January 2019 and October 2020, Uphold marketed CredEarn as a safe savings product with attractive interest payments without disclosing that returns came from microloans to low-income video game players in China with no credit histories. Uphold also falsely claimed the product had comprehensive insurance and operated without required broker registration. Cred filed for bankruptcy in November 2020 after accumulating losses from risky lending, leaving thousands of customers worldwide harmed.

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Cointelegraph
New York AG Sues Coinbase, Gemini Over Unlicensed Prediction Markets
Dringend
Business·21.04.2026KI-Zusammenfassung

New York AG Sues Coinbase, Gemini Over Unlicensed Prediction Markets

New York's attorney general has filed lawsuits against Coinbase Financial Markets and Gemini Titan for allegedly violating state gambling laws by operating unlicensed prediction markets. Attorney General Letitia James stated that gambling remains gambling regardless of terminology and is not exempt from state regulation. The lawsuits seek to recover illegal profits and restitution, and would bar the exchanges from offering such products to users under 21.

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Cointelegraph
New York Sues Coinbase and Gemini for $3.4B Over Illegal Prediction Markets
Dringend
Law·21.04.2026KI-Zusammenfassung

New York Sues Coinbase and Gemini for $3.4B Over Illegal Prediction Markets

New York Attorney General Letitia James filed lawsuits against Coinbase and Gemini on Tuesday, alleging the crypto platforms violated state gambling laws by offering prediction markets. The state seeks $2.2 billion from Coinbase and $1.2 billion from Gemini, arguing the platforms allow users as young as 18 to gamble when the legal age is 21. Both companies claim their prediction markets are federally regulated event contracts, not gambling.

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