New York sues Coinbase Financial Markets and Gemini Titan over alleged state law violations, escalating regulatory pressure on major crypto platforms amid ongoing enforcement actions

NYAG pulled $1.1B back from Gemini for the Earn customers in Feb 2024, and now state enforcement is filling the vacuum after SEC v. Coinbase got dismissed with prejudice. BitLicense revocation carries bigger teeth than most federal settlements — any crypto platform running NY operations without airtight customer-fund segregation should budget for subpoenas, not just compliance hires.

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