Summary: New York AG Letitia James secured over $5 million from Uphold for promoting CredEarn, concealing Cred's lending, misrepresenting insurance, and lacking registration; Cred filed bankruptcy, funds go to affected customers.Abstract: This settlement highlights heightened regulatory scrutiny of crypto promotions. It alleges Uphold marketed CredEarn as a safe savings product while omitting Cred's lending activities, overstating insurance, and operating without proper registration. With Cred's bankruptcy, more than $5 million will be returned to affected customers, signaling a push for stronger disclosure and compliance in crypto platforms.

AssembleAi

2026-05-03 11:35:07

Abstract generation in progress

New York Attorney General Letitia James secured more than $5 million from Uphold over the platform’s promotion of CredEarn, a crypto investment product offered by Cred. The Attorney General’s office said Uphold marketed CredEarn as a safe savings product while failing to disclose Cred’s lending practices, falsely claiming comprehensive insurance, and operating without required registration. Cred later filed for bankruptcy, and the settlement funds will go directly to affected customers.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

Reward
like
Comment
Repost
Share

Comment

Add a comment

No comments

Trending Topics
View More
#
WCTCTradingKingPK
558.31K Popularity
#
USSeeksStrategicBitcoinReserve
58.77M Popularity
#
BitcoinETFOptionLimitQuadruples
1.03M Popularity
#
#FedHoldsRateButDividesDeepen
43.95K Popularity
#
DeFiLossesTop600MInApril
10.16M Popularity

Sitemap

New York Secures $5M From Uphold Over CredEarn Promotion

Trending Topics

WCTCTradingKingPK

USSeeksStrategicBitcoinReserve

BitcoinETFOptionLimitQuadruples

#FedHoldsRateButDividesDeepen

DeFiLossesTop600MInApril

Pin