Gemini

<ul><li>Genesis Global Capital sparks a $689M legal showdown with former partner Gemini Trust, exposing the intricacies and hurdles of the cryptocurrency sector.</li><li>Alleged $689M preferential transfers by Gemini embroiled the crypto giants in a heated legal clash, claiming to disadvantage other creditors.</li><li>Genesis vs. Gemini saga unfolds with bankruptcy, lawsuits, and regulatory scrutiny, including accusations of fraud impacting thousands of investors.</li></ul>In a recent development, Genesis Global Capital, a prominent cryptocurrency lender, has ignited a fierce legal tussle against its former partner, Gemini Trust, aiming to recover a staggering sum surpassing $689 million. The dispute has unveiled a contentious affair within the cryptocurrency sector, marked by intricate legal intricacies and substantial obstacles.Court documents recently <a href="https://restructuring.ra.kroll.com/genesis/Home-DocketInfo?DocAttribute&#61;4768&amp;DocAttrName&#61;GENESISGLOBALCAPITAL%2CLLCV.GEMINITRUSTCOMPANY%2CLLCETAL_Q&amp;MenuID&#61;10577&amp;AttributeName&#61;GGC%20v.%20Gemini%20Trust" rel="noopener noreferrer nofollow">filed</a> by Genesis revealed assertions against Gemini for conducting preferential transfers totaling approximately $689,302,000. According to Genesis, these alleged transfers disadvantaged other creditors, sparking a heated legal clash.The Genesis-Gemini rift surfaced in the public domain following the collapse of FTX. Genesis <a href="https://twitter.com/cameron/status/1616302997503627264" rel="noopener noreferrer nofollow">filed</a> for bankruptcy in January, a move that propelled its parent company, Digital Currency Group (DCG), into the <a href="https://twitter.com/cameron/status/1677327395869581316" rel="noopener noreferrer nofollow">legal spotlight</a> after Gemini <a href="https://cryptotale.org/gemini-trust-genesis-global-and-dcg-face-charges-in-billion-dollar-fraud-case/" rel="noopener noreferrer nofollow">sued</a> DCG in July. The allegations made by Gemini were labeled as &#34;defamatory&#34; and a mere &#34;publicity stunt&#34; by DCG.Read full article at <a href="https://cryptotale.org/genesis-vs-gemini-689m-legal-battle-unveils-crypto-chaos/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Genesis vs. Gemini: $689M Legal Battle Unveils Crypto Chaos

CryptoTale

Inne artykuły opublikowane 22 lis 2023

Polygon zkEVM to Undergo Crucial Update, Here’s Note to Users

Will Binance Need to Sell Its Bitcoin and Altcoin Holdings? How Much of Which Altcoin Does It Hav...

Whale Movements Continue: Important Transactions Shake the Crypto Market

Mastercard and Feedzai Unite for Crypto Fraud Protection Globally

Lee Yewon wins WEMIX CHAMPIONSHIP 2023

Binance: Will it Close? What Does the Future Hold for Crypto?

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!