Judge Rules Against Gemini, Genesis Motion to Dismiss SEC Case Against Earn Product
The judge found that the SEC’s complaint “plausibly alleges” that the two crypto firms offered and sold unregistered securities via Gemini Earn.
Genesis
DCG’s Barry Silbert Pitched Genesis-Gemini Merger in a Drastic Bid to Save the Lender in 2022
Silbert’s motion to dismiss the New York Attorney General’s $3 billion lawsuit contains emails from around the time 3AC failed and the Genesis and Gemini loans business began to seize up.
Digital Currency Group Files for Dismissal of New York Attorney General’s Lawsuit
The crypto firm’s boss, Barry Silbert, also filed a motion to dismiss the Attorney General’s accusation that he concealed losses at the firms and so cheated customers and investors.
Winklevoss Twins’ Gemini Promises to Return $1.1B to Earn Customers
The pact is tied to the bankruptcy of Genesis Küresel Capital, Gemini’s partner for its Earn program.
Digital Currency Group Reports Q4 Revenue of $210M, Up 59% Y/Y (Full Text)
Fourth quarter EBITDA was $99 million versus a loss of $7 million a year earlier.
First Mover Americas: Bitcoin Hovers Below $48K; Immutable X Soars
The latest price moves in crypto markets in context for Feb. 12, 2024.
Genesis Seeks Approval to Sell $1.6B in Bitcoin, Ether Trust Holdings
Nearly $1.4 billion of Genesis’ assets were held in Grayscale Bitcoin Trust (GBTC), which has since converted to a spot exchange-traded fund (ETF).
Genesis Global Trading Pays $8M to Settle New York Lawsuit
The crypto lender also agreed to cease its business activities in New York and forfeit its BitLicense to settle anti-money laundering and fraud charges against it.
DCG Can’t Sell or Reduce Ownership of Genesis Until Bankruptcy Proceedings Close, Judge Rules
Genesis requested a New York bankruptcy court to bar ownership changes to secure tax benefits on around $700 million worth of operating losses.
Genesis-DCG Propose to Settle Lawsuit: Bankruptcy Filing
DCG has paid about $227.3 million to Genesis so far and plans to hisse another $275 million it owes by April.