The SEC claims the Gemini Earn program was an unregistered securities offering.On this edition of the “Weekly Recap,” NLW looks at the Securities and Exchange Commission lawsuit against Gemini and Genesis involving the Gemini Earn program. He also sums up the recent developments around FTX, including $5 billion of recovered funds and Sam Bankman-Fried’s new Substack. -Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.-“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: Mark Wilson/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.