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Bankrupt crypto lender Genesis Global Capital has filed a lawsuit against cryptocurrency exchange Gemini to recover $689 million in preferential transfers, according to a Nov. 21 court filing.The lawsuit alleges that during the 90-day period before Genesis filed for bankruptcy in January, Gemini withdrew an “aggregate gross amount of no
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In an action filed as part of Genesis' bankruptcy case, Gemini is seeking to gain control of the GBTC shares, which, Gemini said, "would completely secure and satisfy the claims of every single" Earn customer – whose money was locked up when Genesis froze withdrawals last year. Source
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Binance has long been the world's largest cryptocurrency exchange by trading volume. Still, on Monday, traders looking to buy and sell bitcoin (BTC) quickly on Binance were at a relative disadvantage to their peers on Kraken and Coinbase (COIN), according to data tracked by Paris-based Kaiko. The 0.1% ask depth
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WOO co-founder Jack Tan said the repurchase allows the company to move on “without further distractions from the 3AC fallout”. WOO Network has announced its decision to repurchase shares and tokens it sold to defunct Singaporean hedge fund Three Arrows Capital (3AC) back in 2021. The Taiwan-based trading platform and liquidity
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According to a press release, WOO agreed to cancel shares purchased by 3AC in 2021's Series A fundraise and repurchase 20 million WOO tokens, worth around $3.4 million at current prices. The tokens have been sent to a burn address or crypto wallet that cannot be accessed by anyone. Source
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Bankrupt South Korean yield platform Haru Invest says it will return users' assets, although no particular timeframe is given.In a questions and answers session on October 2, Hugo Lee, Haru Invest's CEO, said the firm has a plan for "phased asset recovery and distribution" in several rounds through the disposition
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Gemini Trust Co., a crypto exchange, reportedly withdrew $282 million from Genesis Global Holdco LLC months before Genesis filed for bankruptcy. Genesis and Gemini used to work together on the Earn program. Under this initiative, Gemini allowed users to lend crypto via Genesis and earn returns. This partnership appeared mutually beneficial
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EquitiesFirst is a private lending platform that owed Celsius some $439 million worth of cash and bitcoin (BTC) as of July 2022. Celsius first took collateralized loans from the lender in 2019, but failed to return collateral in 2021, CryptoX reported earlier. Wednesday's filing named both the company and its
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied BlockFi, the now-defunct crypto lending company, has filed a court application to move “trade-only” assets from users’ accounts to stablecoins. This move follows the company’s ongoing efforts initiated in August to return users’ funds after previously closing
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