Bitcoin Slumps Below $63K, Altcoins Rekt, as Crypto Succumbs to Risk Off Mood
[Aug 2 3:39 PM] Major U.S. stock indexes are suffering 2.5%-3.5% declines on Friday.
1 / 5 Relevant items tagged with #Genesis
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Bullish Bitcoin traders better positioned for Friday’s $5.5B options expiry
[Jul 24 1:41 PM] Bullish Bitcoin options traders expect a hefty profit from Friday’s expiry now that Germany and Mt. Gox wallets have been emptied
Genesis-labelled address moves $720M BTC to Coinbase, pointing to start of asset liquidations
[Jul 12 6:42 AM] Genesis Trading transferred over 12,600 Bitcoin to Coinbase over the past 30 days, two months after reaching a settlement with the state of New York.
DCG, Top Executives Renew Push to Get New York AG’s Civil Fraud Suit Dropped
[Jul 2 1:24 PM] Lawyers for cryptocurrency firm Digital Currency Group (DCG) and two of its top executives – CEO and founder Barry Silbert and Soichiro “Michael” Moro, the former CEO of DCG’s wholly-owned trading arm Genesis – have made a final effort to convin
New York Recovers $50 Million From Gemini — Bans the Exchange From Crypto Lending in the State
[Jun 15 10:21 AM] New York Attorney General Letitia James has secured a $50 million settlement from cryptocurrency exchange Gemini for Earn program investors. This settlement ensures that all defrauded investors will fully recover the assets they invested but were…
New York AG Pushes Back Against DCG, Silbert’s Motion to Dismiss Fraud Case
[Jun 7 1:26 PM] New York Attorney General Letitia James is not backing down from her lawsuit against Digital Currency Group, its founder and CEO Barry Silbert, and Soichiro “Michael” Moro, the former CEO of DCG’s wholly-owned crypto trading arm, Genesis.
$2.18 Billion Digital Assets in Kind Returned to Earn Users, Gemini Says
[May 30 2:35 PM] Cryptocurrency exchange Gemini announced on Wednesday that Earn users have received $2.18 billion of their digital assets in kind, representing 97% of their assets owed and a 232% recovery since Genesis halted withdrawals. This recovery follows a…
Gemini Announces Full Recovery of Earn Users' Digital Assets
[May 29 8:00 AM] In-kind recovery of Gemini users' funds means they'll get 232% of the value of their assets back.
NYAG Takes Victory Lap as Court Approves Genesis Settlement
[May 20 11:16 PM] NYAG says the settlement will establish a fund for New Yorkers who invested more than $1.1 billion in Genesis through the Gemini Earn program and blocks Genesis from operating in the state.
NY Attorney General Secures $2 Billion Settlement With Bankrupt Crypto Lender Genesis
[May 20 8:14 PM] New York Attorney General Letitia James has secured a $2 billion settlement with bankrupt cryptocurrency firms Genesis Global Capital, Genesis Asia Pacific, and Genesis Global Holdco. The settlement, which requires bankruptcy court approval, will…
New York AG reaches $2B settlement with Genesis ‘for defrauded victims’
[May 20 9:52 AM] The attorney general’s office filed a lawsuit against Genesis in October 2023 for allegedly defrauding investors through the Gemini Earn program.
Genesis Set to Return $3B Customer Assets in Finalized Bankruptcy Liquidation Plan
[May 19 11:47 PM] Bankruptcy claims began trading at 35% of account balance value when they were initially listed on claim trading marketplace Xclaim
Court Approves Crypto Lender Genesis’ $3 Billion Payout to Customers
[May 18 7:33 AM] Crypto lender Genesis Global obtained court approval Friday to return approximately $3 billion to its customers as part of its bankruptcy liquidation. U.S. Bankruptcy Judge Sean Lane approved Genesis’ Chapter 11 plan, overruling an objection…
Genesis Acquires Over 32,000 BTC After Offloading GBTC Shares
[Apr 7 1:47 AM] Embattled crypto lender Genesis Global Capital has continued to ramp up efforts to pay up creditors after filing for bankruptcy protection in January 2023. As part of these efforts, Genesis has now reportedly sold off the entirety of its Grayscale…
Genesis Sells Grayscale Shares, Buys $2.17 Billion in Bitcoin for Customer Reimbursement
[Apr 6 1:35 PM] Following Genesis Global Capital’s receipt of authorization to divest its Grayscale fund holdings, reports disclose that Genesis executed the sale last week. The proceeds were then used to procure 32,041 bitcoin, aimed at reimbursing its…
Genesis Completes Redemption of GBTC Shares, Buys 32K Bitcoins with Proceeds
[Apr 5 1:19 PM] The company in February got permission from a New York bankruptcy court to sell approximately 36 million shares of Grayscale's Bitcoin Trust.
Unlocking Crypto History: 2,000 ETH From Ethereum’s Genesis Days Suddenly Moved
[Mar 24 1:00 PM] In recent weeks, Bitcoin.com News has chronicled the significant number of dormant bitcoin addresses that have sprung to life in March after years, if not a decade, of inactivity. Similarly, we’ve observed a resurgence of activity from older…
Genesis to Pay SEC $21M Penalty to Settle Charges Over Gemini Earn Product
[Mar 19 7:51 AM] The bankrupt crypto lender Genesis Global Capital has agreed to a final judgment ordering it to pay $21 million to settle charges with the U.S. Securities and Exchange Commission (SEC) for violating securities laws by offering and selling its…
Crypto Lender Genesis Agrees to $21 Million SEC Fine, Funds to Await Bankruptcy Claim Settlements
[Mar 19 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…
Judge Rules Against Gemini, Genesis Motion to Dismiss SEC Case Against Earn Product
[Mar 13 1:40 PM] A New York judge has ruled that the U.S. Securities and Exchange Commission (SEC) case against crypto lender Genesis and crypto exchange Gemini will be allowed to move forward, denying the two defendants’ motions to dismiss in a Wednesday court…
Digital Currency Group Pushes Back Against NYAG Lawsuit
[Mar 11 7:00 AM] The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now…
DCG's Barry Silbert Pitched Genesis-Gemini Merger in a Drastic Bid to Save the Lender in 2022
[Mar 8 2:30 PM]
Email Shows Digital Currency Group and Gemini Explored Merger Before Genesis Bankruptcy
[Mar 8 11:30 AM] In an email found within the motion by Digital Currency Group (DCG) and Barry Silbert to dismiss the lawsuit initiated by the New York Attorney General, discussions of a potential merger between Gemini and Genesis were revealed before Genesis…
Winklevoss Twins' Gemini Promises to Return $1.1B to Earn Customers
[Feb 28 3:38 PM] Gemini told the New York Department of Financial Services it would return at least $1.1 billion to its Earn customers after Genesis Global Capital wraps up its bankruptcy process, according to NYDFS.
DCG Calls Out Subsidiary Genesis' Settlement With New York as 'Subversive'
[Feb 21 4:48 PM] Digital Currency Group (DCG) is objecting to the settlement between the New York attorney general and Genesis – the failed crypto lender that was among DCG's array of digital assets businesses.
Report: Genesis Global Cleared to Unload $1.3 Billion in GBTC Shares
[Feb 14 5:30 PM] Genesis Global Capital has received authorization to offload its stake in Grayscale’s Bitcoin Trust (GBTC), valued at approximately $1.3 billion. Genesis Global Permitted to Liquidate $1.3 Billion in Bitcoin Trust Shares According to…
Bitcoin Open Interest Surges To A 2-Year High, BTC Breaks Above $51,000
Court Filing Shows Genesis Settled With NYAG, Aims to End Crypto Lending Platform Dispute
[Feb 10 1:00 PM] After settling with the U.S. Securities and Exchange Commission (SEC), Genesis Global has reportedly reached an agreement to settle with the Office of the New York Attorney General. The official had accused the company, along with its parent…
New York Expands Fraud Case Against Digital Currency Group to $3 Billion
[Feb 9 11:46 AM] New York Attorney General Letitia James has amplified its fraud case against Digital Currency Group (DCG), now saying the company is responsible for $3 billion in investor losses tied to the Gemini Earn product and to direct investments with…
Crypto Titan Digital Currency Group Opposes Genesis’ Restructuring Plan for Favoring Select Creditors
[Feb 7 11:30 AM] In a legal document filed on Feb. 6, 2024, the crypto juggernaut, Digital Currency Group (DCG), voiced opposition to Genesis’ revised bankruptcy strategy for multiple concerns. DCG argues that the plan favors certain creditors over others…