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CryptoCurrency

Gemini Returns $2.2B to Crypto Lending Program Users Following 18-Month Suspension: Report

  • This latest development followed a settlement between the New York Attorney General and Genesis, Gemini's lending partner.
  • Gemini notified users that 97% of what Genesis owed was available in Gemini accounts.
Wednesday, 29/05/2024 | 18:45 GMT by Jared Kirui
CryptoCurrency

Genesis Hits the Wall with $2 Billion Settlement, Shown the Door in New York

  • New York AG Letitia James secures settlement to aid 29,000 defrauded investors.
  • The AG pursues crypto oversight, having obtained $2.5 billion from various platforms so far.
Monday, 20/05/2024 | 19:28 GMT by Tareq Sikder
CryptoCurrency

Genesis’ Parent Will Not See Any Recovery amid $3 Billion Payout Approval

  • The $3 billion in cash and crypto will go to the creditors of the collapsed crypto lender.
  • The court rejected Digital Currency Group’s proposal to cap the recovery value.
Monday, 20/05/2024 | 07:28 GMT by Arnab Shome
CryptoCurrency

SEC Hits Genesis with $21 Million Penalty over Unregistered Crypto Lending Program

  • Gemini Earn program promised interest payments on crypto assets loaned to Genesis before collapsing in 2022.
  • According to the SEC, this offering violated disclosure requirements meant to protect investors.
Tuesday, 19/03/2024 | 13:37 GMT by Jared Kirui
CryptoCurrency

Winklevoss Twins’ Gemini Commits to Return $1.1 Billion to Earn Customers

  • The company will work with the bankruptcy proceedings of Genesis to refund Earn customers.
  • The Earn program had more than 200,000 customers.
Thursday, 29/02/2024 | 05:45 GMT by Arnab Shome
CryptoCurrency

Bankrupt Genesis Settles Fraud Charges in New York

  • The bankrupt company will return the assets supposed to go to the state regulator to creditors.
  • It has already surrendered BitLicense under another settlement.
Friday, 09/02/2024 | 06:52 GMT by Arnab Shome
CryptoCurrency

Genesis vs. Gemini: $689 Million Lawsuit Unravels Cryptocurrency Drama

  • Court documents filed on November 21 indicate that the legal action aims to recover the sum.
  • The CEOs of both companies publicly clashed, accusing each other of non-cooperation.
Wednesday, 22/11/2023 | 10:29 GMT by Tareq Sikder
CryptoCurrency

Gemini Sues Genesis over $1.6 Billion Dispute in GBTC Shares

  • Genesis served as the primary lending partner for Gemini's Earn program.
  • An ongoing legal battle in the cryptocurrency industry involves Gemini, Genesis, and DCG.
Monday, 30/10/2023 | 10:13 GMT by Tareq Sikder
CryptoCurrency

NY Attorney General Sues Gemini, Genesis, and DCG for Alleged Billion-Dollar Fraud

  • Genesis and DCG are accused of attempting to hide $1.1 billion in losses.
  • Gemini allegedly misled investors about the safety of its program with Genesis.
Thursday, 19/10/2023 | 12:14 GMT by Jared Kirui
CryptoCurrency

Genesis’ Exit: Crypto Lender Shuts Down All Trading Operations

  • The crypto lender is handling disputes with FTX and Gemini.
  • The closure of its operations affects both U.S. and international trading desks.
Thursday, 14/09/2023 | 17:57 GMT by Jared Kirui
CryptoCurrency

DCG’s Payment Plan on Shaky Ground as Genesis Lender Group Objects

  • The Ad Hoc Group called the agreement "wholly insufficient."
  • DCG proposed paying $830M seven years after Genesis' Chapter 11 plan becomes effective.
Wednesday, 30/08/2023 | 16:21 GMT by Solomon Oladipupo
CryptoCurrency

FTX, BlockFI and Genesis’ Customer Data Exposed in “SIM Swapping Attack”

  • The crypto exchange, FTX said compromised customer data is “non-sensitive.”
  • However, the firm urged customers to be on high alert for scam emails.
Friday, 25/08/2023 | 18:36 GMT by Solomon Oladipupo
CryptoCurrency

FTX Softens $4B Demand, Strikes $175M Settlement with Genesis

  • Both parties reached the agreement 'in principle' on or around July 20.
  • Genesis raised over $350M in customer, avoidance and loan claims against FTX.
Thursday, 17/08/2023 | 16:04 GMT by Solomon Oladipupo
CryptoCurrency

FTX and Genesis Global Strike Deal to Settle Bankruptcy Disputes

  • The crypto lender is reportedly owed USD $226 million by FTX.
  • FTX claims Genesis owes it USD $2 billion.
Friday, 28/07/2023 | 08:46 GMT by Jared Kirui
CryptoCurrency

Gemini Sues DCG, Founder Barry Silbert over Genesis’ Debit in Earn Program

  • The exchange said that DCG lied about absorbing Genesis' 3AC losses.
  • DCG in a statement called Gemini's lawsuit another 'publicity stunt'.
Friday, 07/07/2023 | 20:45 GMT by Solomon Oladipupo
CryptoCurrency

Dutch Crypto Exchange Bitvavo Expects at Least 80% Recovery from DCG

  • Genesis has reached an in-principle agreement with its creditors on a restructuring plan.
  • The DCG-owned crypto lender filed for bankruptcy protection on January 20th.
Tuesday, 07/02/2023 | 20:14 GMT by Solomon Oladipupo
CryptoCurrency

Barry Silbert's DCG Sells Grayscale Assets to Raise Funds

  • The company is selling the assets at half price.
  • The funds will be used to repay creditors of the bankrupt lending business.
Tuesday, 07/02/2023 | 10:51 GMT by Arnab Shome
CryptoCurrency

Crypto Lender Genesis Files for Bankruptcy in New York

  • Three companies have been named in the bankruptcy filings.
  • The lending business has estimated to have more than 100,000 creditors.
Friday, 20/01/2023 | 08:01 GMT by Arnab Shome
CryptoCurrency

Genesis is Reportedly Preparing to File for Bankruptcy within Days

  • It is one of the many companies to collapse along with FTX.
  • The SEC recently charged Genesis and Gemini for selling unregistered securities.
Thursday, 19/01/2023 | 08:10 GMT by Arnab Shome
CryptoCurrency

SEC Takes Gemini, Genesis to Court for Selling Unregistered Securities

  • Genesis halted the withdrawals amid a liquidity crunch.
  • It owes about 340,000 Gemini Earn customers almost $900 million.
Friday, 13/01/2023 | 08:29 GMT by Arnab Shome
CryptoCurrency

US DoJ and SEC Are Reportedly Probing Digital Currency Group

  • The authorities have not filed any indictment yet.
  • A DCG spokesperson denied any knowledge of such investigations.
Monday, 09/01/2023 | 08:24 GMT by Arnab Shome
CryptoCurrency

Crypto Downzing Continues as Huobi Plans to Prune Workforce by 20%

  • Huobi wants "a very lean team" in the face of a bear market.
  • Genesis and Silvergate Capital have also announced job cuts.
Friday, 06/01/2023 | 22:28 GMT by Solomon Oladipupo
CryptoCurrency

Crypto Lender Genesis Seeks $1B Emergency Loan

  • The company sought the loan before pausing withdrawals.
  • A spokesperson confirmed that it is now in talks with potential investors.
Friday, 18/11/2022 | 09:24 GMT by Arnab Shome
FinTech

Accel Leads $45 Million Series B Funding in UK Fintech Genesis

  • Genesis has now raised $50 million since its first external capital injection in November 2018.
Monday, 15/03/2021 | 18:48 GMT by Aziz Abdel-Qader
Institutional FX

StoneX Picks Genesis for Digitisation of Middle Office Workflows

  • The company has selected Genesis low-code application platform to fully automate its middle office workflows.
Thursday, 11/02/2021 | 10:02 GMT by Bilal Jafar
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