Gemini, Genesis, DCG Sued by New York Attorney General; Coinbase Picks EU Hub

Crypto Spring could be ready to bloom. And Coinbase finds a new home base. You're watching Coindesk Daily, I'm your host, Jen Sani. Let's take a look at the markets. The coin desk, Bitcoin price XX index is currently trading slightly higher around $28,700. Meanwhile, crypto winter may be over. According to Morgan Stanley Wealth Management in a post Tuesday, the investment manager said Crypto Spring is likely on the horizon. Bitcoin has risen 70% year to date and 77% from last year's lows. New York Attorney General, Letitia James has filed a lawsuit against crypto firms, Gemini Genesis and DC G for allegedly defrauding more than 200,000 investors of more than $1 billion. The enforcement official also wants to ban these companies from the financial investment industry in the state. Coin desk reached out for comment but has not yet heard back. We should note coin desk is owned by DC G bankrupt Crypto Exchange FTX used customer funds to buy back the firm's stake held with competitor exchange. Binance. That's according to testimony during Sam Ban Fried's criminal trial on Wednesday in 2019, Binance invested an undisclosed amount of money in FTX as part of a strategic partnership between the two firms. Finance Ceo CZ said in a 2022 post, the company had received over $2.1 billion in B US D Stablecoins and FTXF TT Tokens. As part of the repurchase Coinbase has picked Ireland to be its regulatory hub within the European Union. It is part of an effort to comply with new EU laws known as Mica which take effect at the end of 2024. In a statement, Coinbase said, quote, Ireland has a support of political environment for fintech companies as well as a globally respected regulator. And quote, the country already plays host to tech giants like Apple and Google. That's a wrap for coin desk daily, get more updates on coindesk dot com and we'll see you next time.