Monday, May 27, 2024
Home > Gemini

Genesis Sues Gemini Seeking Return of $689M in Preferential Transfers

Genesis claims that, as market volatility increased, Gemini made significant withdrawal demands that harmed other creditors. Genesis Global Capital, a cryptocurrency lender, has filed a lawsuit against the Gemini cryptocurrency exchange, seeking the return of over $689 million in alleged preferential transfers. The embattled companies have been embroiled in a legal

Read More

Bankrupt crypto lender Genesis sues Gemini to recover $689M of ‘preferential transfers’

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

Read More

Gemini sues Genesis over GBTC shares used as Earn collateral, now worth $1.6B

Cryptocurrency exchange Gemini filed an adversary proceeding against bankrupt crypto lender Genesis Global Holdco in the Southern District of New York Bankruptcy Court on Oct. 27. At issue is the fate of 62,086,586 shares of Grayscale Bitcoin Trust (GBTC). They were used as collateral to secure loans made by 232,000 Gemini

Read More