New York Attorney General Letitia James is settling with crypto exchange Gemini over fraud allegations for $50 million.

In a new press release, James says she’s recovered $50 million worth of digital assets on behalf of 230,000 investors allegedly defrauded through Gemini’s Earn program, which had the firm partnering up with crypto lender Genesis to provide staking rewards.

However, Genesis ended up going bankrupt in 2022 and thus Gemini could not pay back customers what it owed them.

In 2023, James launched an investigation into Gemini and found that the company knew Genesis’ loans were “under-secured and at one point highly concentrated with one entity” but failed to disclose this information to investors.

As stated by James,

“Hundreds of thousands of people, including at least 29,000 New Yorkers, had their trust broken and their money swindled by Gemini through its bogus Earn program.

Gemini marketed its Earn program as a way for investors to grow their money, but actually lied and locked investors out of their accounts.

Today’s settlement will make defrauded investors whole and should remind cryptocurrency companies that deceiving investors is illegal and will not be tolerated by my office.”

In a new thread on the social media platform X, Gemini acknowledged the settlement and told customers that they would receive 100% of the crypto assets owed to them.

“Today, we are pleased to announce that final Earn distributions – representing the remaining 3% of the digital assets owed to you as of the suspension date (November 16, 2022) – will be available in your Gemini account within seven days. With this final distribution, Earn users will have received 100% of the assets owed to them.”

Last month, Genesis also settled with James for a staggering $2 billion, the largest crypto settlement to date in the state’s history.

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The post New York Attorney General Reaches $50,000,000 Settlement With Crypto Exchange Gemini Over Fraud Allegations appeared first on The Daily Hodl.

Your Guide: Is EBT Offering Everyone $750

Are you on SNAP and use an EBT card? Maybe you’re searching for resources to help get you back on your feet and you’ve read somewhere that SNAP/EB is offering $750. If you’re curious and have caught yourself asking, “Is EBT Offering Everyone $750?” then you’re in luck.

Today we are going to answer this and cover some basics. Keep reading to find out more.

Also read: How Long Does an EBT Refund Take?

What are the EBT and Snap benefits?

First, let’s tackle what exactly we’re talking about here. SNAP (aka the Supplemental Nutrition Assistance Program) helps people who are going through a financial setback buy food. The benefits (aka the money) are distributed through what’s called an EBT card.

EBT stands for “electronic benefits transfer.” People also refer to this as a food stamp. This program helps many low-income people support their families in the hopes that they can get out of their financial situation.

Also read: Does the 99 Cent Only Store Accept EBT?

Is EBT offering everyone $750?

Now, let’s get to the main question on everyone’s mind: “Is EBT Offering Everyone $750?”. The answer is no. Yes, it’s too good to be true. Now, remember that to be eligible for SNAP, you need to meet certain criteria, which vary from stay to stay.

Plus, there are going to be a few factors that could help influence how much benefit someone could receive.

What can you use your EBT card for?

Remember, you can only use your EBT card on eligible food items.

What can you not use SNAP on? Anything that is a nonfood item. For example, if you have a dog, unfortunately, you cannot use SNAP on the dog for any pet food.

Nor can you use it on paper products, vitamins, grooming items, cosmetic soaps and shampoos, or medicines. So, you will need to plan accordingly. Check out a list of items that are eligible here.

Snap is meant to be used on the following items:

• Non-alcoholic beverages
• Dairy Items
• Meat, poultry, and fish
• Fruits Veggies
• Cereal and bread items

How do I apply for SNAP?

Still need to apply for SNAP? Well, get ready, because, as you can imagine, it’s not going to be as easy of a process as you would imagine.

First, it’s best to head to your local SNAP office or apply online. Now, before you do this, it’s best if you gather all the necessary documents to expedite the application process. You’re going to need basic documents such as proof of income, proof of address, etc.

Once you submit your application, it then becomes the waiting game. The SNAP office will need to conduct an actual interview with you to ensure that you are eligible before your application is approved. During the course of this time, you’ll probably get a slew of various mailers. Once you’re approved, you’ll get an EBT card.

Conclusion

In conclusion, although it can be a bit of a bummer to know that you probably won’t get $750 in SNAP benefits, remember this still is relief out there. Whether you’re facing an unexpected layoff or have just found it hard to put food on the table, you have resources out there. By using the guide above and familiarizing yourself with what’s needed to apply for SNAP, you are now better equipped to get the relief you need. Happy shopping!