Genesis sues Gemini, seeking nearly $690m in ‘preferential transfers’

2023-11-22 11:42

Genesis says the Winklevoss-founded crypto exchange benefited at the expense of Genesis’ creditors when it withdrew the money at the beginning of the crypto winter. Genesis Global Capital, a crypto brokerage firm owned by Digital Currency Group (DCG), is seeking…

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Genesis Vision (GVT) на Currencies.ru

$ 0 (+0.00%)

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genesis crypto seeking capital brokerage beginning global

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Источник: btcmanager.com

genesis crypto → Результатов: 126

The Fall of Genesis: A Wake-up Call for the Crypto Industry

The crypto industry has received a significant blow as Genesis, a prominent cryptocurrency lender, filed for bankruptcy. The SEC charges Genesis for illegal crypto sales. Genesis is a part of the DCG conglomerate of 200+ crypto-focused businesses.

2023-1-23 23:15	Blockchain News
genesis crypto industry businesses sales illegal charges

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Genesis' Crypto Lending Businesses File for Bankruptcy Protection

The collapse of FTX was the final straw for Genesis, which earlier this year suffered losses of several hundred million dollars due to its exposure to failed crypto hedge fund Three Arrows Capital.

2023-1-20 11:07	Business
genesis crypto several due hundred million dollars

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Genesis' Crypto Lending Businesses Files for Bankruptcy Protection

The collapse of FTX was the final straw for Genesis, which earlier this year suffered losses of several hundred million dollars due to its exposure to failed crypto hedge fund Three Arrows Capital.

2023-1-20 07:32	Business
genesis crypto several due hundred million dollars

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Bitcoin Holds Steady Near $21K Even as Equities Slide

Bitcoin was hovering near $21,100 Thursday in afternoon trading. Genesis’ looming bankruptcy filing and the crypto industry’s other recent travails should be priced in, one analyst said.

2023-1-20 00:52	Markets
near bitcoin industry crypto filing travails one

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First Mover Americas: BTC, ETH Drop Amid Genesis Bankruptcy Reports

The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 19, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

2023-1-20 16:46	Markets
latest crypto mover markets btc 2023 jan

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Crypto Markets Today: Bitcoin Falls Below $21K; Genesis Nears Bankruptcy Filing; Bitzlato Founder Arrested

Bitcoin fell 2% to trade at the $20,700 level, while ether was trading down 3% to the $1,530 level. Equities closed down.

2023-1-19 01:06	Markets
down level bitcoin 700 equities closed 530

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Genesis could file for bankruptcy this week: report

Genesis Global Capital, a crypto lending platform owned by Digital Currency Group (DCG), is said to be considering filing for bankruptcy. According to a Bloomberg report, Genesis is likely to file for bankruptcy this week.

2023-1-19 23:31	Cryptocurrency News
bankruptcy genesis report week said bloomberg likely

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Breaking: Genesis is reportedly planning to file for bankruptcy soon

Genesis has reportedly started to prepare for a bankruptcy filing, which could be done by the end of this week The crypto lender owes creditors over $3 billion Troubled crypto lending platfoThe post Breaking: Genesis is reportedly planning to file for bankruptcy soon appeared first on AMBCrypto.

2023-1-19 21:55	News
reportedly bankruptcy genesis planning breaking soon crypto

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Crypto Brokerage Genesis Global Capital May Be Nearing Bankruptcy Filing: Reports

Genesis had previously halted customer withdrawals following FTX's epic collapse.

2023-1-19 21:54	Business
genesis customer halted withdrawals previously ftx collapse

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Crypto Conglomerate DCG Suspends Dividends Amid Distress at Genesis Unit

"In response to the current market environment, DCG has been focused on strengthening our balance sheet by reducing operating expenses and preserving liquidity," it told shareholders in a letter Tuesday.

2023-1-18 02:30	Business
dcg reducing expenses operating balance strengthening sheet

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Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

Digital Currency Group (DCG), the parent firm of struggling cryptocurrency lender Genesis, is liquidating some of its holdings. Tron founder and Chinese crypto entrepreneur Justin Sun is prepared to invest $1 billion to acquire the network.

2023-1-15 17:05	Tron
dcg tron billion justin founder invest sun

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Former SEC Lawyer Says Agency Pushing to Be Crypto Regulator With Gemini/Genesis Suit

Howard Fischer says that the government agency’s probe into the crypto firms could be the precedent the agency needs as it looks to “stake out” its turf as the main regulator of the digital asset space.

2023-1-14 21:36	policy
agency crypto regulator says looks stake precedent

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First Mover Americas: SEC Targets Gemini, Genesis

The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 13, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

2023-1-14 16:15	Markets
crypto markets latest mover contextualizes actions 2023

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US SEC charges Genesis and Gemini with unregistered securities offerings

SEC has charged Genesis and Gemini of illegally marketing securities to investors. In a complaint filed on Jan. 12, SEC claims that Gemini Earn, a crypto lending program, is unlawful. Genesis, a unit of the Digital Currency Group, agreed to…

2023-1-13 12:47	genesis
genesis gemini sec securities unlawful program earn

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SEC Charges Genesis And Crypto Exchange Gemini For Offering Unregistered Securities

The U. S. Securities and Exchange Commission has filed charges against crypto lender Gemini and Genesis for selling unregistered securities through Gemini’s “Earn” scheme. The SEC claims that Earn enabled Genesis and Gemini to obtain billions of dollars from hundreds of thousands of investors through these unregistered offers.

2023-1-13 08:59	SEC
gemini securities unregistered genesis sec earn through

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Gemini and Genesis charged by SEC with selling unregistered securities

The charges relate to Gemini’s crypto asset lending program, Gemini Earn, according to the Securities and Exchange Commission.

2023-1-13 01:16	Securities and Exchange Commission
gemini securities crypto charges relate lending exchange

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SEC Alleges Gemini, Genesis Sold Unregistered Securities

The Securities and Exchange Commission alleged crypto exchange Gemini and Genesis sold unregistered securities in an enforcement action late Thursday.

2023-1-13 01:07	policy
securities unregistered sold exchange genesis gemini enforcement

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DCG considers selling assets to pay $3b Genesis debt

Digital Currency Group (DCG), the conglomerate that owns crypto broker Genesis, is reportedly considering selling assets from its portfolio to pay Genesis’ $3 billion debt.

2023-1-13 19:45	genesis
genesis pay dcg debt selling assets reportedly

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DCG scrambling to raise funds to cover Genesis’ $3B debt burden

Embattled crypto lender Genesis owes over $3 billion to its creditors, the Financial Times reported on January 12, citing sources familiar with the matter. The post DCG scrambling to raise funds to cover Genesis’ $3B debt burden appeared first on CryptoSlate.

2023-1-13 18:45	lending
genesis dcg burden debt raise scrambling funds

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Troubled Crypto Lender Genesis Owes Creditors Over $3B: FT

As part of its fundraising efforts, DCG is reportedly looking at selling some of its venture capital portfolio, worth around $500 million.

2023-1-12 16:23	Business
selling reportedly looking venture 500 million around

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Crypto Lender Genesis Owes Creditors Over $3B: FT

As part of its fundraising efforts, DCG is reportedly looking at selling some of its venture capital portfolio, worth around $500 million.

2023-1-13 16:23	Business
selling reportedly looking venture 500 million around

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Gemini Puts An End To The Crypto Earn Program Amidst DCG Fallout

The contention between Gemini and the Genesis group has been spiraling, especially with the most recent development. Gemini has officially put a stop to the interest-bearing product, which is the flagship Earn program.

2023-1-12 18:33	genesis
gemini earn program recent development officially interest-bearing

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Gemini Terminates Its Crypto Yield Product, Amping Up Battle With Genesis

The move, which Gemini says requires Genesis to return all locked-up assets, sunsets the exchange's nearly two year-old Gemini Earn program.

2023-1-11 20:50	Business
gemini genesis locked-up all return assets sunsets

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Gemini's Cameron Winklevoss Calls for Barry Silbert's Ouster From Crypto Conglomerate DCG

Winklevoss, on behalf of Gemini, called for Silbert's removal for his involvement in the disagreement between Genesis and its creditors.

2023-1-11 17:05	Business
silbert gemini winklevoss disagreement involvement genesis creditors

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First Mover Americas: DCG Reportedly Probed for Genesis Transfers

The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 9, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

2023-1-9 16:21	Markets
latest markets mover crypto context jan 2023

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Crypto Conglomerate DCG Under Investigation By U.S. Authorities

Digital Currency Group, better known as DCG, is currently under investigation by U.S. authorities. According to a report by Bloomberg, U.S. prosecutors in New York – specifically, the city of Brooklyn – are assessing the internal transfers between the multibillion-dollar crypto conglomerate and its crypto lending arm, Genesis Global Capital. The crypto lending company has […]

2023-1-9 16:08
crypto conglomerate dcg lending authorities investigation under

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Crypto Conglomerate DCG Being Investigated by DOJ, SEC: Report

Officials with the U.S. Department of Justice's Eastern District of New York and the Securities and Exchange Commission are examining transfers between Digital Currency Group and Genesis, one of its subsidiaries, a report late Friday said.

2023-1-7 08:12	Business
report digital between examining commission transfers group

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SuperRare cuts 30% of staff as growth slows during crypto winter

Despite only being a week into the new year, SuperRare adds to a number of firms announcing staff cuts such as Huobi and Genesis.

2023-1-8 05:45
superrare staff cuts number adds year firms

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Digital Currency Group: Is the Fallout From FTX Over, or Is the Worst yet to Come?

After the FTX collapse, concerns around the Digital Currency Group (DCG) and its subsidiaries (Genesis, Grayscale) began spreading across the industry. Can the crypto market witness yet another contagion? Fears around the most exposed and whether this could lead to a chain reaction of cascading liquidations and insolvencies.

2023-1-7 18:00
digital yet group ftx currency around exposed

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Genesis Global Dismisses Additional 30% of Staff

Coinspeaker Genesis Global Dismisses Additional 30% of Staff Genesis conducted the latest staff cut after the company informed clients about "reducing costs and driving efficiencies" amid challenging times for many crypto firms.

2023-1-6 15:53
staff genesis additional dismisses global amid driving

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DCG Closes Subsidiary HQ Digital, Fueling Fears In Bitcoin Market

Digital Currency Group (DCG), the crypto conglomerate that owns lender Genesis Trading and asset manager Grayscale, among others, today made public that it has closed its asset management division called HQ Digital, fueling new fears within the bitcoin and crypto industry, given that the company managed $3.

2023-1-6 13:00
digital crypto dcg bitcoin fears asset fueling

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Crypto Lender Genesis Reduces Staff As It Ponders On Bankruptcy Filing

A lot of ups and downs going on in the crypto industry have pushed some, if not most, companies to the edge of insolvency. Following its request for emergency bailout funding, popular crypto lender Genesis has slashed its staff members and is now considering a chapter 11 bankruptcy filing. This is not the first time […]

2023-1-6 12:15	Grayscale
crypto filing bankruptcy genesis staff lender bailout

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Crypto lender Genesis lays off 30% more staff: Report

Genesis announced in August that it planned to cut its then-260-person workforce by 20%, with CEO Michael Moro moving into an advisory role.

2023-1-6 23:32	lending
genesis then-260-person ceo workforce moro advisory role

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Genesis says 30% of employees will go in new lay-offs

According to the Wall Street Journal, Genesis Global Trading Inc. let off 30% of its workforce today, the latest indication of the crypto lender's ongoing financial difficulties.

2023-1-6 22:56	genesis
genesis workforce let off today indication financial

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Crypto Lender Genesis Lays Off 30% More of Its Staff

The job cuts come a day after the company said it would be “reducing costs and driving efficiencies” amid a challenging environment for crypto companies.

2023-1-6 20:27	Business
crypto reducing costs driving companies environment challenging

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Research Firm Issues Warning For Bitcoin And ETH Investors Over DCG Situation

Renowned crypto firm Arcane Research has issued a warning to Bitcoin (BTC) and Ethereum (ETH) investors in light of the escalating events surrounding Digital Currency Group (DCG), Genesis, and Grayscale.

2023-1-5 16:30	Grayscale
firm eth bitcoin dcg research warning investors

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Crypto Markets Today: Crypto Broker Genesis Asks for Clients’ Patience

ALSO: Bitcoin rose and most other, major cryptocurrencies spent much of Wednesday in the green.

2023-1-5 02:05	Markets
crypto spent cryptocurrencies much major green wednesday

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Genesis CEO asks for patience from clients amid Gemini pressure

Genesis Trading, the cryptocurrency brokerage and lender that halted customer withdrawals in the aftermath of FTX collapse, believes it can sort out its financial problems. However, it needs more time in order to accomplish this, the troubled crypto lender’s interim CEO Derar Islim said.

2023-1-6 21:08
genesis ceo lender needs however sort out

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Genesis CEO Says Solution Requires More Time

Derar Islim addressed the institutional crypto brokerage's clients in a letter on Wednesday.

2023-1-4 17:34	Business
brokerage crypto institutional clients wednesday letter addressed

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Crypto Broker Genesis' CEO Tells Clients It Needs More Time to Sort Out Finances

Genesis halted withdrawals in November in aftermath of FTX's collapse.

2023-1-5 17:34	Business
genesis finances withdrawals halted november aftermath collapse

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Bitcoin Turns 14 As King Crypto Pushes Towards $17,000 Level

Yesterday was Genesis Block day which is also known as the “birthday of Bitcoin,” the oldest (surviving) cryptocurrency according to Investopedia. On January 3, 2009, Bitcoin’s mystery creator Satoshi Nakamoto mined the first BTC block, marking the beginning of the digital currency’s 14-year lifespan.

2023-1-4 09:26	Price Analysis
bitcoin block turns mystery creator 2009 january

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New Chelsea owner will receive $350 million if Genesis is bankrupt

The new Chelsea FC CEO Todd Boehly will acquire $350 million if the crypto lender Genesis declares bankruptcy. Digital Currency Group will be liable for such an outstanding loan. DCG tries to raise funds to support Genesis Digital Currency Group…

2022-12-22 22:09	genesis
genesis new digital group currency 350 million

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Grayscale Says It May Return 20% Of Investor Capital, Bitcoin Refuses To Budge

Besides the macroeconomic headwinds, when it comes to crypto, there are two main concerns at the moment: Binance and DCG. The situation surrounding Genesis Trading, Digital Currency Group (DCG) and Grayscale, which is still unresolved after a month, is depressing the market sentiment around Bitcoin.

2022-12-19 18:00	Grayscale
dcg grayscale bitcoin surrounding genesis trading situation

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US DoJ names Genesis in FTX creditors committee

Crypto lending platform Genesis, along with popular crypto market maker Wintermute and others, will form the FTX creditors committee. Genesis and other FTX victims form the bankruptcy committee A court filing released today showed that the Justice Department had added…

2022-12-16 02:26	genesis
genesis committee ftx form crypto creditors filing

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First Mover Asia: QCP Capital Founder Sees Crypto Industry’s Immediate Future Tied to Genesis Debacle, Expects Rebound in 2024

During a panel discussion at Taipei Blockchain Week, Darius Sit noted the continued institutional adoption of the crypto options and derivatives market, among industry high points; former FTX CEO Sam Bankman-Fried arrested.

2022-12-13 02:58	Markets
crypto industry adoption options institutional darius sit

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Near-bankrupt Genesis ‘is working’ to preserve clients’ assets

To strengthen liquidity, striving crypto exchange Genesis has announced ongoing work to preserve client assets. It might take weeks to come up with a plan. After locking up customers’ funds for about three weeks, Genesis Global Capital is reportedly working…

2022-12-9 17:40	genesis
genesis assets preserve weeks working locking customers

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Genesis yet to enable customer withdrawals amid FTX contagion

Genesis, a US-based crypto lending platform, informed its customers that withdrawals might be halted for weeks while it develops a plan to avoid potential bankruptcy.

2022-12-8 12:34	Voyager
withdrawals genesis weeks halted might develops potential

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Genesis Client Letter Suggests No Imminent Solution to Withdrawal Freeze

The institutional crypto brokerage has been in talks with creditors and potential investors since the collapse of exchange FTX.

2022-12-8 19:38	Business
creditors talks potential investors exchange ftx collapse

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Gemini launches page to help Gemini Earn users affected by Genesis crisis

The co-founder of Gemini, Cameron Winklevoss, on Wednesday announced via a series of tweets that the crypto exchange has launched a page to help Gemini Earn users. KEY TAKEAWAYS Gemini Earn was impacted after crypto lender Genesis paused withdrawals and Earn redemptions.

2022-12-7 12:36	Gemini
gemini earn genesis users crypto page help

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Genesis to Pay SEC $21M Penalty to Settle Charges Over Gemini Earn Product

The bankrupt crypto lender Genesis Global Capital has agreed to a final judgment ordering it to pay $21 million to settle charges with the U.S. Securities and Exchange Commission (SEC) for violating securities laws by offering and selling its now-defunct Gemini Earn program, the SEC announced Tuesday.

Crypto exchange Gemini planned public debute via Genesis merger, court documents show

Winklevoss’ crypto exchange Gemini was exploring an option to merge with crypto broker Genesis to compete with Coinbase and FTX. In October 2022, just a month before FTX filed for bankruptcy, Gemini co-founder Cameron Winklevoss discussed at a lunch with…

Gemini strikes deal to return all assets ‘in kind’ to Earn users instead of historic dollar equivalent

Crypto exchange Gemini said Earn users would receive “100% of their digital assets back in kind” following an in-principle agreement with bankrupt Genesis and other creditors of the failed lender, according to a Feb.

Bitcoin eyes six-month winning streak amid $300 million in BTC liquidations

Quick Take In a wild 24-hour ride, Bitcoin’s value underwent a rollercoaster of fluctuations, skyrocketing to a peak of $64,000, subsequently plunging to $59,000, before making a recovery to above $60,000.

DCG files objection in bankruptcy court, calls out Genesis’ settlement subversive

Digital Currency Group (DCG) opposes the settlement between the New York Attorney General and Genesis. DCG filed a new application following an agreement with the prosecutor and Genesis, a bankrupt crypto lender that was one of DCG’s companies. Company executives…

Next Bitcoin Crash? Insight On Genesis’ $1.5 Billion GBTC Sale

The crypto community has been abuzz with discussions surrounding Genesis’ intent to sell approximately 36 million shares of Grayscale Bitcoin Trust (GBTC), a move valued around $1.5 billion. This announcement stoked fears of a potential market downturn, reminiscent of the apprehensions following the FTX bankruptcy estate’s sale of over $1 billion worth of GBTC. However, a […]

Genesis, Digital Currency Group reach agreement on new settlement plan

Genesis Global and its parent company, Digital Currency Group (DCG), are closing in on a settlement agreement, according to a Nov. 28 court filing. The filing includes an amended settlement plan that both companies have agreed on and urged other stakeholders to vote in favor.

2023-11-22 11:42

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