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Crypto Lender Genesis Requests US Bankruptcy Court to Approve ‘Settlement Principle’

[Mar 20, 2024 2:30 PM] The insolvent cryptocurrency lender, Genesis, has petitioned a U.S. bankruptcy court to approve a proposed settlement principle announced on Feb. 28. According to an update, if the court approves the settlement, Genesis Earn users will receive all…

Crypto Lender Genesis Agrees to $21 Million SEC Fine, Funds to Await Bankruptcy Claim Settlements

[Mar 19, 2024 7:48 AM] Genesis Global Capital has settled with the U.S. Securities and Exchange Commission (SEC) and agreed to pay a $21 million civil penalty. The SEC further disclosed that the regulator will “not receive any portion of the penalty until after payment…

Coin-for-Coin Payback — Gemini Announces Full Recovery of Crypto Assets for Earn Users After Genesis Settlement

[Mar 1, 2024 2:30 AM] Gemini has reached a settlement with Genesis and other creditors within the Genesis bankruptcy proceedings, promising a full in-kind return of digital assets to Earn program users. This resolution, pending bankruptcy court approval, signifies a…

Gemini creditors revolt over ‘brutal’ Bitcoin slashing reorg plan

[Dec 13, 2023 11:04 PM] Under the proposed plan, Gemini Earn users may only recover 61% of their lost funds in a worst-case scenario.

Gemini files brief in lawsuit against SEC, requests to keep it simple

[Aug 19, 2023 11:56 PM] In a recent court filing, Gemini continues to press for dismissal in its lawsuit against the SEC, citing unclear allegations and shifting arguments.

Winklevoss slams DCG's Silbert — Not even SBF was 'capable of such delusion'

[Jul 3, 2023 11:07 PM] In an open letter, Cameron Winklevoss slammed DCG's Barry Silbert for allegedly playing the victim card while owing $1.2 billion to Gemini’s 232,000 Earn customers.

Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit

[Jan 20, 2023 8:00 AM] Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to…

Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis

[Jan 18, 2023 2:30 PM] According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission…

SEC Charges Genesis and Gemini — Winklevoss Says Regulator’s Lawsuit Is ‘Super Lame’

[Jan 13, 2023 1:30 PM] 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…

Demand for Arbitration Filed Against Genesis Global Capital, DCG — Firm Accused of ‘Ochestrating a Sham Transaction’

[Jan 3, 2023 12:30 AM] Three Gemini Earn users have accused Genesis Global Capital of breaching a contract and have subsequently filed a demand for class arbitration with the American Arbitration Association. In addition, the three users assert that all transactions…

Report: Genesis Owes Gemini Customers $900 Million, Exchange Is Attempting to Recoup Assets

[Dec 3, 2022 10:30 AM] According to a recent report from the Financial Times (FT), Genesis Global Capital allegedly owes $900 million to Gemini customers. The exchange operated by Cameron and Tyler Winklevoss is attempting to recover the funds from Genesis, according to…