Crypto exchange Gemini agreed to pay $50 million worth of digital assets to Gemini Earn investors as part of a settlement announced by the New York Attorney General on Friday. 

The settlement comes after NYAG Letitia James said Gemini "misled thousands of investors," including New Yorkers, on risks tied to the Gemini Earn program. Gemini Earn allowed Gemini customers to loan their crypto to now-bankrupt Genesis Global Capital, LLC, and earn up to 7.4 percent APY. 

“Gemini marketed its Earn program as a way for investors to grow their money, but actually lied and locked investors out of their accounts," James said in a statement on Friday. "Today’s settlement will make defrauded investors whole and should remind cryptocurrency companies that deceiving investors is illegal and …