Tagged: genesis

Bankrupt Crypto Lender Genesis to Give Back $2B of Virtual Currency As Part of Latest Gemini Settlement

Failed cryptocurrency lending firm Genesis will reportedly be returning 97% of crypto-assets from a customer program with digital asset platform Gemini by May of this year. This update has been shared after a New York based bankruptcy Judge stated on Tuesday that they have approved… Read More

Genesis Settles with the SEC, Pays Penalty of $21 Million

Genesis Global Capital, LLC has settled charges filed by the Securities and Exchange Commission (SEC) that emerged due to the Commission’s claims that its Gemini Earn program involved the sales of securities. The Earn program, powered by Genesis, allowed crypto investors to generate income while… Read More

Genesis Launches Middle-Office Solution for Equities and Fixed-Income Trading

Genesis Global, the software application development platform purpose-built for financial markets organizations, announced the launch of the web version of its multi-asset class middle-office solution, Trade Allocation Manager (TAM). TAM provides a robust foundation “for operational efficiency and regulatory compliance through a centralized application that… Read More

Gemini Is Encouraging Other Creditors to Get Behind a Plan to Obtain More Money from Genesis’ Parent Firm, Digital Currency Group

Digital currency exchange Gemini is attempting to encourage various other creditors behind a plan to get more money from bankrupt cryptocurrency lending company Genesis‘ parent firm, the Digital Currency Group (DCG), This, according to an update from the Information shared this past Friday. The latest… Read More

Gemini Sues Digital Currency Group (DCG), CEO Barry Silbert After Dispute Over Unit’s Restructuring Process

Digital asset firm Gemini, one of the largest creditors of bankrupt virtual currency lending platform Genesis, has reportedly sued parent firm Digital Currency Group (DCG) and its CEO. This update has been announced the day after DCG missed the crypto exchange’s deadline for agreeing to… Read More

Cameron Winklevoss of Gemini Sends Terms to DCG, Barry Silbert

The ongoing battler between the Digital Currency Group (DCG) and Gemini has ratcheted up as Cameron Winklevoss has sent a demand letter to DCG and founder Barry Silbert. To take a step back, Gemini had utilized the services of DCG subsidiary Genesis for its yield… Read More

Digital Assets: Genesis Expands Custodial Tri-Party Solution with Assistance from BitGo Custody

GGC International Limited (Genesis), a digital asset trading firm, is proud to announce its collaboration with BitGo Trust, a key player focused on digital asset custody, to provide a tri-party solution for its institutional clients. This joint effort will “allow Genesis to continue delivering superior… Read More

Genesis Reaches an Agreement in Principle with Parent Digital Currency Group

Genesis Global Holdco, LLC says that it has reached an “agreement in principle” with Digital Currency Group (DCG) and the ad hoc groups of creditors of Genesis Global Capital, LLC, which holds or represents more than $2 billion in claims, according to a note from… Read More

Genesis Receives Court Approval on First Day Motions Under Bankruptcy Proceedings

Genesis Global Holdco has received approval from the US Bankruptcy Court for the Southern District of New York for all the first-day motions related to its Chapter 11 filed on January 19, 2023. Last week, Genesis filed for bankruptcy protection after a period when it… Read More

Gemini Cuts Workforce: Report

Photo courtesy notionscapital on Flickr

Gemini, a crypto firm regulated by the New York State Department of Financial Services (NYDFS), is cutting its employee headcount once again, according to a report. Like many other crypto trading platforms, the drop in digital asset valuations, along with crypto contagion, has impacted Gemini’s… Read More

Genesis Files for Bankruptcy After Holding Out for Weeks as Crypto Contagion Continues

Late last night, Genesis, part of the Digital Currency Group (DCG), filed for Chapter 11 bankruptcy protection as it looks to restructure in light of a challenging environment in the crypto sector which has impacted multiple firms. Genesis is a digital asset prime brokerage that… Read More

Gemini Comments on SEC Enforcement Action Targeting it and Genesis

Yesterday, the Securities and Exchange Commission (SEC) announced an enforcement action against Gemini, a digital asset platform, and Genesis – a subsidiary of Digital Currency Group (DCG). The revelation of the lawsuit arrived at a challenging time for both firms as Gemini is in the… Read More

Accounting Fraud and Private Lies: Cameron Winklevoss Calls Out Digital Currency Group as Temperatures Rise in Dispute

Cameron Winklevoss, co-founder of the Gemini, has taken to Twitter once again to take Digital Currency Group (DCG) to task in regards to their relationship with DCG subsidiary Genesis. Last week, Winklevoss posted a letter on Twitter criticizing founder Barry Silbert and his DCG, hammering… Read More

Genesis Pondering Bankruptcy Filing: Report

Genesis, part of the Digital Currency Group (DCG) and previously a big crypto lender, is considering filing for Chapter 11 bankruptcy, according to a report. The institutional-focused digital asset platform revealed issues in November when it temporarily suspended redemptions. Genesis, like some other crypto firms,… Read More

Gemini Sends Letter to Barry Silbert, Digital Currency Group Founder: You took this money … to fuel greedy share buybacks, illiquid venture investments

Crypto firm Gemini has posted an open letter criticizing Barry Silbert and his company Digital Currency Group (DCG). In November, following the collapse of FTX, Genesis – a subsidiary of DCG – halted redemptions. Gemini had utilized the Genesis lending platform for its Earn program… Read More

Bankruptcy Chatter Hits Genesis

Genesis, a crypto firm providing services to institutions, is being hit with bankruptcy rumors following the news it had suspended redemptions due to exposure to the FTX failure. Genesis is part of the Digital Currency Group – one of the most prominent conglomerates in the digital… Read More

Grayscale Affirms All Crypto is Safe

Grayscale, part of the Digital Currency Group (DCG), published a blog post in recent days telling users that “all digital assets are safe and secure.” Grayscale is the issuer of multiple digital asset-based funds like the Grayscale Bitcoin Trust (OTCQX:GBTC), which is traded on OTC… Read More

Gemini Halts Earn Program Following Genesis Announcement

Crypto trading platform Gemini has halted its Earn program following the announcement that Genesis had halted redemptions. Gemini Earn most recently promoted an 8.5% return for investors The collapse of FTX and its collateral damage continues to impact other crypto trading platforms due to counterparty… Read More

Genesis Suspends Redemptions: “Abnormal withdrawal requests which have exceeded our current liquidity”

Genesis, an institutional-focused digital asset platform, has posted a series of Tweets revealing a strained platform following the collapse of FTX this past week. Genesis is part of the Digital Currency Group – one of the most prominent entities in the digital asset world. Genesis… Read More

Itaú Securities Selects Genesis Global for Trade Automation

Genesis Global, the low-code application development platform purpose-built for financial markets organizations, announced that the Genesis platform will “provide a new trade automation and client portal system for Itaú Securities.” The Genesis solution will “consolidate trade and portfolio information, improving the experience offered to clients… Read More

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