Gemini sued over slumping stock, prediction market pivot

Gemini investors are suing the crypto exchange and its billionaire founders, twins Cameron and Tyler Winklevoss, over the company’s “abrupt corporate pivot” that saw it turn its focus from crypto trading to prediction markets. The IPO documents falsely portrayed the firm as focused on expanding its reach as a crypto exchange, the lawsuit said. Instead, Gemini has shuttered operations in the UK, the EU and Australia. It has also laid off nearly one-third of its employees, including its chief operating offi ...