Genesis Global Agrees to $21M Civil Penalty Linked to Gemini Earn
Genesis Global, a bankrupt crypto lender, agrees to a $21 million penalty tied to Gemini Earn, settling SEC charges of securities law violations.
WeiliangGenesis Global, a bankrupt crypto lender, agrees to a $21 million penalty tied to Gemini Earn, settling SEC charges of securities law violations.
WeiliangFederal court denies Gemini and Genesis' motion to dismiss SEC case over Gemini Earn program, finding it offered securities under Howey and Reves tests.
WeiliangThe claim alleges that Gemini's preferential transfers of funds from Genesis unfairly disadvantaged other creditors, prompting a plea to the court for rectification.
BrianEarlier this year, regulatory authorities in the United States initiated legal action against Gemini and Genesis Global Capital, accusing them of engaging in the trading of unregistered securities via the Gemini Earn crypto asset lending initiative.
BrianGemini and Genesis are seeking the dismissal of a lawsuit filed in January by the Securities and Exchange Commission. The SEC accused the firms of the unregistered offer and sales of securities in the form of Gemini’s Earn lending program.
TheBlockThe four were associates of a mastermind who initially exploited the exchange for £15 million over three months.
BeincryptoWe’ve now passed the second full week of 2023 and crypto fans’ patience and resilience have been rewarded with the first big price leaps in a long time.
decryptThe chief executive of Gemini is calling the U.S. Securities and Exchange Commission's (SEC) actions against the crypto exchange “counterproductive.”
dailyhodlThe beleaguered Gemini Earn program is now the linchpin in a new set of charges filed by the Securities and Exchange Commission against both Genesis and Gemini.
decryptThe statement was released in response to reports that Genesis Global and the Gemini exchange have stopped allowing withdrawals.
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