Gemini faces class-action suit for allegedly hiding business pivot plans

Cryptocurrency exchange Gemini is facing a class-action lawsuit alleging it failed to disclose plans to pivot to prediction markets and exaggerated the profitability of its core business, Decrypt reported. According to the report, Gemini shareholders claim the company overstated the profitability of its core crypto platform and its growth prospects from global expansion. They also allege the company concealed information about an impending, costly, and potentially disruptive restructuring.