GMO-Z.com Trust Company, Inc. ($GYEN) $6.75M Investor Settlement
GMO-Z.com Trust Company, Inc. agreed to a $6.75M settlement to resolve claims that GYEN purchasers in New York and California were harmed when the token allegedly detached from its Japanese yen peg after being marketed as stable.
Outline:
GMO Trust agreed to pay $6.75 million to settle this case. GYEN was marketed as a yen-pegged stablecoin. They alleged buyers were not told it could detach from that peg and swing sharply in value. The settlement covers certain GYEN purchasers in New York and California.
Timeline:
December 29, 2020: GMO Trust was regulated by the New York State Department of Financial Services, and the relevant GYEN purchase period began.
March 3, 2021: GMO Trust advertised the benefits of trading GYEN on the Liquid exchange.
May 12, 2021: Binance first allowed GYEN trading, and plaintiffs allege the token immediately came untethered from the yen and surged in value.
November 16, 2021: Coinbase first allowed GYEN trading, and plaintiffs allege GYEN again came untethered from the yen and then plunged back toward the peg.
May 12, 2022: Plaintiffs filed the class action in the Northern District of California.
July 13, 2023: The claims against GMO Trust were severed and transferred to the Southern District of New York.
December 30, 2025: The parties entered into the $6.75 million settlement stipulation.
Background:
GYEN is a cryptocurrency issued by GMO Trust and marketed as a stablecoin pegged 1-to-1 to the Japanese yen. Plaintiffs said that framing made the token appear far less volatile than it actually was.
According to the complaint, GMO Trust promoted GYEN through exchange partnerships and highlighted uses such as hedging, arbitrage, and earning yield. Plaintiffs said those promotions encouraged investors to treat GYEN as a practical and relatively stable investment product.
The case focused on what plaintiffs described as major pricing disruptions after GYEN began trading on Binance in May 2021 and on Coinbase in November 2021. They alleged the token broke from its yen peg during those trading launches, rose sharply, and then fell back, causing substantial losses for buyers.
Plaintiffs further alleged that GMO Trust failed to disclose that GYEN was susceptible to large swings in value, even though it was marketed as pegged and stable. GMO Trust denied wrongdoing, but agreed to a $6.75 million cash settlement to resolve the action.
What Can Investors Expect Now?
GMO-Z.com Trust Company, Inc. agreed to a $6.75M settlement to resolve claims that GYEN purchasers in New York and California were harmed when the token allegedly detached from its Japanese yen peg after being marketed as stable.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section.
Frequently Asked Questions
All persons who purchased or acquired GYEN in New York or California at a time when the GYEN was unpegged from the Japanese yen between December 29, 2020 and October 10, 2025, inclusive, and lost money thereby.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
If you're eligible, you can file your claim directly from this case page by clicking the "Collect Payout" button.
More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed — or file manually for this case.
11th.com is an investor recovery company that helps investors track and collect securities class action settlements. We will:
1. Prepare documents for your payout.
2. Audit the claim and make sure you get the maximum possible payout.
3. File a claim with the settlement administration.
4. Correspond with the settlement administration to resolve emerging issues.
5. Deliver payout directly to your brokerage account.
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.