Genesis Completes Redemption of GBTC Shares, Buys 32K Bitcoins with Proceeds
The company in February got permission from a New York bankruptcy court to sell approximately 36 million shares of Grayscale’s Bitcoin Trust.
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Genesis
The company in February got permission from a New York bankruptcy court to sell approximately 36 million shares of Grayscale’s Bitcoin Trust.
DCG CEO Barry Silbert (CoinDesk archives)
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.
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.
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 Genesis, according to a new court filing.
Genesis requested a New York bankruptcy court to bar ownership changes to secure tax benefits on around $700 million worth of operating losses.
Crypto lender Genesis Global Capital has sued cryptocurrency exchange Gemini Trust, its former business partner, to recover more than $689 million.
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.
Digital Currency Group CEO Barry Silbert asked Sam Bankman-Fried for help, SBF testified Friday (DCG)
Cryptocurrency exchange Gemini has sued lending firm Genesis Global over 60 million GBTC shares that were pledged as collateral for Gemini’s Earn users.