The claim alleges that Gemini's preferential transfers of funds from Genesis unfairly disadvantaged other creditors, prompting a plea to the court for rectification.
BrianThe move, which Gemini says requires Genesis to return all locked-up assets, sunsets the exchange's nearly two-year-old Gemini Earn program.
CoindeskBankruptcy may be inevitable if a bailout cannot be secured.
BeincryptoCrypto trading firm Genesis is reportedly under the lens of regulators in the state of Alabama and other U.S. states.
BitcoinistSeparately, the CEO of Genesis' parent company disclosed that it had a roughly $575 million liability to Genesis.
CoindeskIndustry insiders speculate that the brokerage is having trouble finding new funding.
BeincryptoGenesis has spent the past several days seeking at least US$1 billion (S$1.4 billion) in fresh capital.
OthersThis comes after the collapse of hedge fund Three Arrows Capital and crypto exchange FTX.
BeincryptoThe unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.
CoindeskThe CEO of institutional cryptocurrency broker Genesis Global Trading, Michael Moro, has announced his resignation and that the company will ...
Bitcoinist