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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…

Genesis Seeks Approval to Sell $1.6B in Bitcoin, Ether Trust Holdings

[Feb 5 4:08 AM] Nearly $1.4 billion of Genesis’ assets were held in Grayscale Bitcoin Trust (GBTC), which has since converted to a spot exchange-traded fund (ETF).

Genesis Seeks Court Approval to Offload $1.4 Billion in GBTC Assets Post-SEC Settlement

[Feb 4 10:30 AM] After reaching an agreement with the U.S. Securities and Exchange Commission (SEC), the bankrupt company Genesis Global Capital has submitted a petition to the bankruptcy court to dispose of holdings from Grayscale’s Bitcoin Trust, Ethereum…

Genesis Settles SEC Lawsuit for $21 Million Over Unregistered Securities

[Feb 2 4:30 PM] Facing charges from the SEC over its crypto lending practices, Genesis has agreed to a $21 million settlement. This move aims to close a chapter of legal challenges following the company’s bankruptcy filing last year amid a wider crypto market…

Genesis Global Trading Settles With New York for $8M Over Regulatory Non-Compliance, Forfeits Bitlicense 

[Jan 12 11:07 AM] According to the New York State Department of Financial Services (DFS), Genesis Global Trading has agreed to a settlement fine of $8 million and will forfeit its New York state Bitlicense as part of the agreement over compliance failures. Adrienne…

DCG Can't Sell or Reduce Ownership of Genesis Until Bankruptcy Proceedings Close, Judge Rules

[Dec 19, 2023 4:17 AM] Genesis requested a New York bankruptcy court to bar ownership changes to secure tax benefits on around $700 million worth of operating losses.

Genesis-DCG Propose to Settle Lawsuit: Bankruptcy Filing

[Nov 28, 2023 10:55 PM] The deal would see DCG repay $275 million it owes to Genesis by April.

Genesis strikes repayment deal with parent firm DCG to end $620M lawsuit

[Nov 28, 2023 9:09 PM] Digital Currency Group has over $320 million left to repay, according to Genesis, and the deal would see that remaining sum repaid by April next year.

Genesis Alleges Multi-Million Dollar Preferential Transfers by Gemini Amidst Crypto Turmoil

[Nov 22, 2023 11:00 AM] In a recent legal move, Digital Currency Group’s (DCG) subsidiary Genesis Global Capital LLC has filed a complaint against the crypto exchange platform and custodian Gemini. Genesis hopes to claw back $689 million from the centralized crypto…

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

[Nov 22, 2023 2:00 AM] Genesis claims Gemini made preferential transfers of about $689 million from Genesis and wants the court to “correct this unfairness.”

Genesis Sues Gemini to Recover 'Preferential Transfers' Worth $689M

[Nov 22, 2023 1:34 AM] Crypto lender Genesis Global Capital has sued cryptocurrency exchange Gemini Trust, its former business partner, to recover more than $689 million.

Genesis, Three Arrows Capital Reach Agreement on $1B of Claims

[Nov 13, 2023 4:59 AM] The bankrupt crypto lender is seeking court approval to settle the claims with a $33 million payment to defunct hedge fund 3AC.

Genesis’ New Liquidation Plan Is a Material Swerve, U.S. Government Says

[Nov 2, 2023 2:44 AM] The bankrupt crypto lender appears to be no longer seeking to reorganize, after a lawsuit from the New York Attorney General dimmed hopes of a deal.

Sam Bankman-Fried Rebuffed Barry Silbert's and Celsius' Requests for Help, Ex-FTX CEO Testifies at His Trial

[Oct 27, 2023 3:06 PM]

Gemini Sues Bankrupt Lender Genesis, Its Former Partner, Over $1.6B Worth of GBTC

[Oct 27, 2023 10:20 AM] Cryptocurrency exchange Gemini has sued lending firm Genesis Global over 60 million GBTC shares that were pledged as collateral for Gemini's Earn users.

DCG, Genesis Were the ‘Adults in the Room’ but Didn’t Behave Like It

[Oct 19, 2023 12:42 PM]

Gemini, Genesis, DCG Face $1B Fraud Lawsuit by NY Attorney General; Gemini Says It’s the ‘Victim’ in Scandal

[Oct 19, 2023 7:56 AM] New York Attorney General Letitia James filed a lawsuit against crypto companies Gemini Trust Company, Genesis Global Capital, and its parent company Digital Currency Group (DCG) for allegedly defrauding over 230,000 investors out of more than $1…

Genesis Ordered to Comply With Terra Subpoena Within 5 Days

[Oct 16, 2023 10:00 AM] The crypto firm failed to comply with requests made as part of a probe into the collapsed stablecoin, a New York judge said

Gemini Pulled $282M Earn Users' Funds From Genesis Last Year to Protect Customers

[Sep 28, 2023 9:04 AM] Gemini said it elected to increase its liquidity reserves owing to the market turmoil throughout the summer of 2022, following events such as the collapse of the TerraUSD stablecoin.

Gemini legal team accuses DCG of ‘gaslighting’ Genesis creditors

[Sep 15, 2023 3:25 PM] Lawyers representing Gemini Trust filed a response in bankruptcy court to Digital Currency Group’s plan claiming to offer unsecured creditors a “70–90% recovery."

Gemini Blasts DCG and Genesis Bankruptcy Plan, Calling It ‘Misleading at Best’

[Sep 15, 2023 11:22 AM]

Genesis announces winding down of crypto trading services

[Sep 14, 2023 12:38 PM] In January, Genesis Global Capital announced it would eliminate its crypto spot trading services “voluntarily and for business reasons” without additional details.

Genesis Has Ceased All Crypto Trading Services: Spokesperson

[Sep 14, 2023 10:11 AM]

Beleaguered Gemini Earn Customers Will Be Made ‘Nearly Whole,’ DCG and Genesis Say About Remuneration Plan

[Sep 13, 2023 6:07 AM] A filing on Tuesday states that if the assorted creditor groups vote through the proposed deal, then “Gemini Earn users are estimated to recover approximately 95-110% of their claims.”

Coinbase Launches Crypto Lending Service for Institutional Investors

[Sep 7, 2023 7:30 PM] Digital asset exchange Coinbase will be offering cryptocurrency loans to institutions in the United States. With the new service, the leading U.S. crypto trading platform seeks to fill the market gap opened by the collapse of companies like…

Genesis to Shutter Crypto Trading Desk for U.S. Market

[Sep 5, 2023 10:27 AM] Genesis Global Trading will halt its crypto OTC desk later this month.

Creditors Accuse Genesis of Ballot-Stuffing Over $175M FTX Deal

[Sep 1, 2023 4:02 AM] Genesis is facing headwinds as it seeks to finalize its wind-up after a January bankruptcy – and is now being accused by Gemini and other creditors of voter “manipulation.”

Gemini Opposes Genesis Bankruptcy Plan: 'Woefully Light on Specifics'

[Aug 30, 2023 3:43 PM] Attorneys for crypto exchange Gemini argued that a proposed resolution for Genesis' bankruptcy doesn't have enough detail or provide any assurances for some if its largest debtors in a new filing Wednesday.