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That appears to be what happened with the latest bankruptcy proposal, which is a pretty sweet deal for Gemini Earn customers if the 95% to 110% figure holds up.
Crypto lender Genesis Global has settled a U.S. Securities and Exchange Commission lawsuit over its defunct Gemini Earn lending program, agreeing to a $21 million fine that will be paid only if ...
Gemini Earn promised high interest rates to investors who lent crypto assets such as bitcoin to Genesis, a unit of Digital Currency Group, with Gemini taking fees that could exceed 4%.
Gemini Trust Company, LLC (Gemini) is an American cryptocurrency exchange and custodian bank.It was founded in 2014 by Cameron and Tyler Winklevoss. [4] [5] [6]In 2023, the company, along with two others, was sued by the New York attorney general Letitia James under allegations that it had "defrauded" investors by exposing them to undue risk.
Genesis is a cryptocurrency intermediary for institutional investors, with Digital Currency Group (DCG) as its parent company. [1]Genesis operates several businesses, including Genesis Global Trading, Inc. ("GGT"), Genesis Global Capital, LLC ("GGC"), Genesis Asia Pacific Pte. Ltd. ("GAP"), GGC International Limited ("GGCI"), and Genesis Custody Limited ("Genesis Custody").
In May 2023, Roblox agreed to settle the suit for $10 million, in the form of a Robux refund to any users who bought an item before May 11, 2023. [50] [51] [52] In June 2021, the National Music Publishers' Association filed a lawsuit against Roblox Corporation for $200 million, accusing the company of infringing copyright laws. The complaint ...
"This attack on Earn Users is a new low, even for Genesis," Gemini said in a statement. Under the companies' operating agreements, Genesis borrowed crypto assets from Earn customers, re-invested ...
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