Customers with funds frozen in Gemini’s now-defunct crypto lending program will soon begin receiving their money back.
Shares of Alphabet surged over 7% on Monday morning after news surfaced about potential licensing discussions between tech titan Apple and Gemini for upcoming iPhone models. Concurrently, Apple's stocks experienced a rise of over 2%.
Gemini, a cryptocurrency exchange, has reached a settlement with the New York Department of Financial Services (NYDFS) to refund a minimum of $1.1 billion (£870 million) to customers affected by its discontinued lending program.
On Thursday, Google announced a temporary halt to its Gemini artificial intelligence image generation feature due to reported "inaccuracies" in historical image depiction. Complaints on social media highlighted concerns that the AI tool portrayed historical figures, such as the U.S. Founding Fathers, as people of color, deemed as inaccurate representations.