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The U.S. Securities and Exchange Commission (SEC) has charged crypto exchange Gemini and crypto lender Genesis Global Capital, a subsidiary of Digital Currency Group (DCG). “Through this unregistered offering, Genesis and Gemini raised billions of dollars’ worth of crypto assets from hundreds of thousands of investors,” the SEC alleged. SEC Takes
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The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 13, 2023. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
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The SEC also revealed that Genesis and Gemini generated assets worth hundreds of dollars from hundreds of thousands of investors.On the 12th of January, the US Securities and Exchange Commission (SEC) charged crypto exchange Gemini and crypto lending firm Genesis Global Capital with offering and selling unregistered securities. Both companies
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The Securities and Exchange Commission alleged crypto exchange Gemini and Genesis sold unregistered securities in an enforcement action late Thursday. Source
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The United States Securities and Exchange Commission (SEC) on Jan. 12 charged cryptocurrency lending firm Genesis and crypto exchange Gemini with offering unregistered securities through Gemini's "Earn" program.“We allege that Genesis and Gemini offered unregistered securities to the public, bypassing disclosure requirements designed to protect investors,” said SEC Chair Gary
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Winklevoss accused Genesis of recklessly lending to Three Arrows Capital (3AC) and hoping to “buy time to dig themselves out of the hole which they had created”.On Tuesday, January 10, Gemini co-founder Cameron Winklevoss wrote an open letter addressing the member of Digital Currency Group (DCG). In his letter, Winklevoss
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Gemini CEO Cameron Winklevoss has published another open letter on Twitter, addressed to the board members of Digital Currency Group (DCG). In the letter, Winklevoss accuses DCG and CEO Barry Silbert of making poor decisions with the now-defunct crypto hedge fund Three Arrows Capital (3AC), and claims that DCG orchestrated
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Gemini ended the master loan agreement (MLA) between its customers and Genesis, Gemini told customers of its Gemini Earn in an email on Tuesday. "This officially terminates the Earn Program and requires Genesis to return all assets outstanding in the program," according to Gemini's email. "Existing redemption requests are not
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Derar Islim, interim CEO of crypto market maker and lender Genesis, has sent a letter to clients updating them on the company’s efforts to prop up its finances and resume withdrawals and new lending. The letter, sent on Jan. 4, comes two days after a Twitter exchange between Barry Silbert,
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Claimants allege in a filing that Genesis breached its Master Agreement when it became insolvent in the summer of 2022, while hiding its insolvency from lenders like Gemini. Original Source
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