New York regulators are investigating crypto exchange Gemini for allegedly bribing Congressman to influence legislation. It all started when an anonymous company called SBF, or Strategic Business Facilitators, approached a number of representatives with a proposition to influence crypto-related legislation. According to reports, SBF offered $25,000 to 196 representatives in exchange for their support on certain issues.
The New York Department of Financial Services has launched an investigation into Gemini, alleging that the exchange was behind SBF. Gemini has denied any involvement in the bribery scheme, claiming that it was a separate entity.
The investigation is ongoing, and it remains to be seen whether Gemini will be held responsible for the alleged bribes. If the allegations are true, it could have serious implications for the crypto industry as a whole.
