BREAKING: #Grayscale Parent Company DCG & Gemini Exchange Sued by New York Attorney General #CryptoNews
🔵New York attorney general Letitia James has filed a lawsuit against #Gemini Trust, #Genesis Global, and Digital Currency Group, alleging they defrauded over 230,000 investors of more than $1 billion.
🔵The lawsuit also names former Genesis CEO Soichiro "Michael" Moro and DCG founder Barry Silbert for attempting to hide the financial condition of Genesis.
🔵The allegations highlight similarities with the FTX and Alameda situation, involving large debts, poor risk management, and concealment attempts.
🔵The lawsuit seeks restitution for defrauded investors, including around 29,000 New Yorkers, and disgorgement of any ill-gotten gains within the under-regulated #cryptocurrency industry.
🔵New York attorney general Letitia James has filed a lawsuit against #Gemini Trust, #Genesis Global, and Digital Currency Group, alleging they defrauded over 230,000 investors of more than $1 billion.
🔵The lawsuit also names former Genesis CEO Soichiro "Michael" Moro and DCG founder Barry Silbert for attempting to hide the financial condition of Genesis.
🔵The allegations highlight similarities with the FTX and Alameda situation, involving large debts, poor risk management, and concealment attempts.
🔵The lawsuit seeks restitution for defrauded investors, including around 29,000 New Yorkers, and disgorgement of any ill-gotten gains within the under-regulated #cryptocurrency industry.
#Genesis and 3Arrows Capital aim to settle $1 billion claims for $33 million pending court approval, with a mutual release of liability. #crypto #cryptonews 🔥👇
https://coinpedia.org/news/three-arrows-capital-to-receive-33-million-from-genesis-court-approves/
https://coinpedia.org/news/three-arrows-capital-to-receive-33-million-from-genesis-court-approves/
CoinPedia
Three Arrows Capital to Receive $33 Million From Genesis; Court Approves
Crypto lender , is set to wrap up a game-changing $1 billion settlement with the now-defunct crypto hedge fund, 3 Arrows Capital (3AC). Recent court
#Genesis Global Capital sues #Gemini Trust for $689M in alleged preferential transfers, claiming unfair advantage; ongoing legal disputes involve U.S. authorities. #cryptonews
Read More:https://coinpedia.org/news/genesis-files-lawsuit-against-gemini-to-recover-689m-in-preferential-transfers/
Read More:https://coinpedia.org/news/genesis-files-lawsuit-against-gemini-to-recover-689m-in-preferential-transfers/
CoinPedia
Genesis Sues Gemini for $689 Million in “Preferential Transfers”
No one can really predict what will happen next in the world of cryptocurrency. Now, Genesis Global Capital, a once-thriving crypto lender now dealing
#Genesis, a bankrupt #crypto lender under DCG, strikes a deal to repay $324.5 million, resolving a $620 million lawsuit.
The agreement aids Genesis in creditor reimbursement efforts, navigating legal complexities and restructuring. #cryptonews
https://coinpedia.org/news/genesis-and-dcg-to-end-620m-lawsuit-with-repayment-deal/
The agreement aids Genesis in creditor reimbursement efforts, navigating legal complexities and restructuring. #cryptonews
https://coinpedia.org/news/genesis-and-dcg-to-end-620m-lawsuit-with-repayment-deal/
Coinpedia Fintech News
Genesis and DCG To End $620M Lawsuit with Repayment Deal
The crypto world continues to experience new daily developments – exciting ones! Genesis, a bankrupt crypto lender under Digital Currency Group (DCG),
#Genesis Global to pay $21 million SEC penalty for securities rule violations in #Gemini Earn. #CryptoNews
Settlement conditioned on Genesis repaying creditors, streamlining Chapter 11 proceedings amid regulatory crackdown.
https://coinpedia.org/news/genesis-global-settles-sec-lawsuit-with-21-million-agreement-on-gemini-earn-lawsuit/
Settlement conditioned on Genesis repaying creditors, streamlining Chapter 11 proceedings amid regulatory crackdown.
https://coinpedia.org/news/genesis-global-settles-sec-lawsuit-with-21-million-agreement-on-gemini-earn-lawsuit/
CoinPedia
Genesis Global Settles SEC Lawsuit with $21 Million Agreement on Gemini Earn Lawsuit
Genesis Global, owned by Digital Currency Group, has agreed to a $21 million civil penalty to resolve a lawsuit filed by the U.S. Securities and Exchange
#FTX files motion to sell $175 million claim against #Genesis, part of its financial strategy. #CryptoNews
Genesis Global's bankruptcy fallout concludes with FTX aiming to address debts and strengthen finances.
https://coinpedia.org/news/ftx-seeks-to-sell-175m-claim-against-genesis-in-debt-settlement-move/
Genesis Global's bankruptcy fallout concludes with FTX aiming to address debts and strengthen finances.
https://coinpedia.org/news/ftx-seeks-to-sell-175m-claim-against-genesis-in-debt-settlement-move/
CoinPedia
FTX Plans to Sell $175M Claim Against Genesis to Repay Customers
In a significant development, the defunct cryptocurrency giant FTX has filed a motion in a Delaware court, seeking approval to sell its $175 million claim
New York Attorney General expands lawsuit against #Gemini, #Genesis, DCG to $3 billion fraud. #CryptoNews
Allegations include misleading #investors, risky loans, with over 230,000 affected investors facing $3 billion losses.
https://coinpedia.org/news/winklevoss-twins-crypto-empire-crumbles-ny-attorney-general-exposes-massive-3-billion-fraud/
Allegations include misleading #investors, risky loans, with over 230,000 affected investors facing $3 billion losses.
https://coinpedia.org/news/winklevoss-twins-crypto-empire-crumbles-ny-attorney-general-exposes-massive-3-billion-fraud/
CoinPedia
NY Attorney Claims Gemini and Genesis Duped Investors, Seeks $3 Billion in Damages
In a bold move, New York Attorney General Letitia James has tripled the stakes in her ongoing lawsuit against cryptocurrency firms Gemini, Genesis Global
#Genesis, a DCG subsidiary, authorized to liquidate $1.3 billion in GBTC shares amid legal disputes. #CryptoNews
Despite DCG objections, court allows sale amidst Genesis settling $21 million SEC lawsuit, impacting #cryptomarket sentiment.
https://coinpedia.org/news/genesis-cleared-by-court-to-sell-gbtc-shares-worth-1-3-billion/
Despite DCG objections, court allows sale amidst Genesis settling $21 million SEC lawsuit, impacting #cryptomarket sentiment.
https://coinpedia.org/news/genesis-cleared-by-court-to-sell-gbtc-shares-worth-1-3-billion/
CoinPedia
Genesis to Sell $1.3 Billion GBTC Stake: Bitcoin to Brace for Impact?
In a significant development, Genesis Global Holdco LLC, a subsidiary of Digital Currency Group (DCG), has been given the green light by a U.S. bankruptcy
Top #CryptoNews In Last 12 Hours
1️⃣#Genesis Global Holdco holds $1.6B shares in #Grayscale Trusts, permitted to liquidate $1.3B GBTC shares by court.
2️⃣#PlayDapp hit by two #hacks in a week, losing $290M PLA tokens, prompting swift response and ongoing communication with hacker.
3️⃣ #Revolut considers listing #Solana meme coin #Bonk, plans massive token distribution in "Learn and Earn" campaign.
4️⃣SEC Chair #Gensler's recent interview didn't shed light on #EthereumETF approvals, causing uncertainty in the #cryptomarket
5️⃣#Coinbase shares surged 37% amid #Bitcoin's rise, ahead of strong Q4 earnings. Analysts predict revenue boost and increased trading volumes.
6️⃣#Bakkt secures regulatory approval for $150M securities sale after declaring financial ability to continue.
7️⃣Sean McBride, ex-Ripple director, suggests #XRP could become a #stablecoin, World Bank's recognition stirs speculation. Ripple prioritizes XRP utility.
1️⃣#Genesis Global Holdco holds $1.6B shares in #Grayscale Trusts, permitted to liquidate $1.3B GBTC shares by court.
2️⃣#PlayDapp hit by two #hacks in a week, losing $290M PLA tokens, prompting swift response and ongoing communication with hacker.
3️⃣ #Revolut considers listing #Solana meme coin #Bonk, plans massive token distribution in "Learn and Earn" campaign.
4️⃣SEC Chair #Gensler's recent interview didn't shed light on #EthereumETF approvals, causing uncertainty in the #cryptomarket
5️⃣#Coinbase shares surged 37% amid #Bitcoin's rise, ahead of strong Q4 earnings. Analysts predict revenue boost and increased trading volumes.
6️⃣#Bakkt secures regulatory approval for $150M securities sale after declaring financial ability to continue.
7️⃣Sean McBride, ex-Ripple director, suggests #XRP could become a #stablecoin, World Bank's recognition stirs speculation. Ripple prioritizes XRP utility.
Top #CryptoNews This Week
1️⃣ In January, the US unadjusted #CPI annual rate reached 3.1%, slightly exceeding expectations but lower than previous.
2️⃣ On Feb 15th, #Bitcoin surpassed $52,400, achieving a market cap exceeding $1 trillion, reaching 2021 levels.
3️⃣ #Binance faces $4.3 billion fine for breaching US economic sanctions laws, money laundering.
4️⃣ Senator Elizabeth Warren celebrated Bitcoin's 15th anniversary by honoring Satoshi Nakamoto. she signed a certificate to honor #Bitcoin creator.
5️⃣ #MicroStrategy's Bitcoin holdings surpassed $10B, with profits exceeding $4 billion, as Bitcoin approached $53,000.
6️⃣ Franklin Templeton applied to SEC for a spot #Ether #ETF, joining firms like #BlackRock and #Fidelity.
7️⃣ Court approved #Genesis's sale of $1.3B worth of #GBTC shares to compensate clients who borrowed digital assets.
8️⃣ Seattle Federal Court postpones Binance founder #CZ's sentencing on money laundering charges to April 30th, reasons undisclosed.
1️⃣ In January, the US unadjusted #CPI annual rate reached 3.1%, slightly exceeding expectations but lower than previous.
2️⃣ On Feb 15th, #Bitcoin surpassed $52,400, achieving a market cap exceeding $1 trillion, reaching 2021 levels.
3️⃣ #Binance faces $4.3 billion fine for breaching US economic sanctions laws, money laundering.
4️⃣ Senator Elizabeth Warren celebrated Bitcoin's 15th anniversary by honoring Satoshi Nakamoto. she signed a certificate to honor #Bitcoin creator.
5️⃣ #MicroStrategy's Bitcoin holdings surpassed $10B, with profits exceeding $4 billion, as Bitcoin approached $53,000.
6️⃣ Franklin Templeton applied to SEC for a spot #Ether #ETF, joining firms like #BlackRock and #Fidelity.
7️⃣ Court approved #Genesis's sale of $1.3B worth of #GBTC shares to compensate clients who borrowed digital assets.
8️⃣ Seattle Federal Court postpones Binance founder #CZ's sentencing on money laundering charges to April 30th, reasons undisclosed.
Top #Cryptonews in Past 12 Hours
1️⃣Jerome Powell was pleased with #inflation progress but needed more assurance before rate cuts.
2️⃣Fabi, CEO of Web3 Foundation supporting #Polkadot, advocated for community-voted on-chain treasury spending.
3️⃣The Tao Community Discord admin reported TAO Foundation investigated recent attacks on #Bittensor wallets.
4️⃣Nate Geraci, president of The #ETF Store, forecasted the #Ethereum spot ETF launch for mid-July (July15)
5️⃣#Genesis Digital Assets, a Bitcoin mining firm, considered a U.S. IPO, backed by Alameda's $1 billion investment
6️⃣K33 analyst anticipated the upcoming ETF as a strong catalyst for $ETH's performance, foreseeing potential price boosts.
7️⃣On July 2, #Bitcoin spot ETFs experienced a net outflow of $13.6167 million, reversing five days of net inflows.
1️⃣Jerome Powell was pleased with #inflation progress but needed more assurance before rate cuts.
2️⃣Fabi, CEO of Web3 Foundation supporting #Polkadot, advocated for community-voted on-chain treasury spending.
3️⃣The Tao Community Discord admin reported TAO Foundation investigated recent attacks on #Bittensor wallets.
4️⃣Nate Geraci, president of The #ETF Store, forecasted the #Ethereum spot ETF launch for mid-July (July15)
5️⃣#Genesis Digital Assets, a Bitcoin mining firm, considered a U.S. IPO, backed by Alameda's $1 billion investment
6️⃣K33 analyst anticipated the upcoming ETF as a strong catalyst for $ETH's performance, foreseeing potential price boosts.
7️⃣On July 2, #Bitcoin spot ETFs experienced a net outflow of $13.6167 million, reversing five days of net inflows.
Top #CryptoNews in Past 12 Hours
1️⃣On July 11, #Bitcoin spot #ETFs saw $78.9343m net inflow; Grayscale had $37.6929m outflow. BTC trading below $57K
2️⃣On July 12, Germany sold 1,200 BTC to #Bitstamp, #Kraken, and #Coinbase, 400 each. Currently Holds 6.14K BTC.
3️⃣Jayson Hobby resigned as #Compound CEO, launching Legend with Geoffery Hayes and Mykel Pereira.
4️⃣#Genesis Trading sent 12k BTC to Coinbase during bankruptcy liquidation, holding 33k BTC now.
5️⃣On July 12, #Biden confirmed at his press conference that he would continue campaigning for the 2024 elections.
6️⃣The UK Law Commission suggested integrating #DAOs into existing legal and tax frameworks, avoiding separate regulations.
1️⃣On July 11, #Bitcoin spot #ETFs saw $78.9343m net inflow; Grayscale had $37.6929m outflow. BTC trading below $57K
2️⃣On July 12, Germany sold 1,200 BTC to #Bitstamp, #Kraken, and #Coinbase, 400 each. Currently Holds 6.14K BTC.
3️⃣Jayson Hobby resigned as #Compound CEO, launching Legend with Geoffery Hayes and Mykel Pereira.
4️⃣#Genesis Trading sent 12k BTC to Coinbase during bankruptcy liquidation, holding 33k BTC now.
5️⃣On July 12, #Biden confirmed at his press conference that he would continue campaigning for the 2024 elections.
6️⃣The UK Law Commission suggested integrating #DAOs into existing legal and tax frameworks, avoiding separate regulations.
Top #CryptoNews in Past 12Hours
1️⃣#Coinbase earned $1.45 billion and $596 million #EBITDA in Q2. Transaction revenue fell 27%.
2️⃣Under #MiCA pressure, #Bybit ceased services in France, liquidating positions by August 13.
3️⃣#Genesis Trading transferred 40,000 ETH worth $126.68 million, likely for bankruptcy liquidation.
4️⃣#MicroStrategy held 226,500 bitcoins worth $14.4 billion and planned to raise $2 billion to buy more BTC.
5️⃣On August 1, Ethereum spot ETF saw $26.75M inflow; Grayscale had $78M outflow.
6️⃣#AEVO dropped from $3.7 to $0.44; OKX founder criticized token release practices.
7️⃣On August 1, #BitcoinETFs saw $50.64M net inflow; Grayscale had $71.33M outflow.
8️⃣YouHodler analyst Ruslan Lienkha said Harris's rising election chances could have negatively affected #Bitcoin’s price.
1️⃣#Coinbase earned $1.45 billion and $596 million #EBITDA in Q2. Transaction revenue fell 27%.
2️⃣Under #MiCA pressure, #Bybit ceased services in France, liquidating positions by August 13.
3️⃣#Genesis Trading transferred 40,000 ETH worth $126.68 million, likely for bankruptcy liquidation.
4️⃣#MicroStrategy held 226,500 bitcoins worth $14.4 billion and planned to raise $2 billion to buy more BTC.
5️⃣On August 1, Ethereum spot ETF saw $26.75M inflow; Grayscale had $78M outflow.
6️⃣#AEVO dropped from $3.7 to $0.44; OKX founder criticized token release practices.
7️⃣On August 1, #BitcoinETFs saw $50.64M net inflow; Grayscale had $71.33M outflow.
8️⃣YouHodler analyst Ruslan Lienkha said Harris's rising election chances could have negatively affected #Bitcoin’s price.