Genesis Latest News | crypto news

Latest Genesis News

Gemini to finally pay Earn clients. Is it the end of a 1.5 year-conflict?

The case of clients’ money from Gemini’s Earn program, frozen for a year and a half, is finally moving toward a resolution. On May 17, Judge Sean H. Lane approved Genesis’ Chapter 11 bankruptcy plan. The decision will allow the…

May 21, 2024 at 4:54 pm

New York Attorney General concludes $2b Genesis settlement

The New York Attorney General Letitia James has reached a $2 billion settlement with Digital Currency Group subsidiary Genesis.

May 20, 2024 at 5:36 pm

Genesis Global gets court approval to distribute billions to creditors, DCG challenge gets rejected

Genesis Global, the digital assets lender that went bankrupt last year, received court approval to pay billions in cash and crypto to creditors. The judge also rejected a legal challenge from Genesis Global's parent company, DCG.

May 18, 2024 at 3:30 pm

Genesis buys $2.1b of Bitcoin after selling 36m GBTC shares

Troubled crypto lending firm Genesis has reportedly bought $2.1 billion worth of Bitcoin (BTC) after selling off approximately 36 million shares of the Grayscale Bitcoin Trust (GBTC).

April 6, 2024 at 3:43 pm

Genesis agrees to pay $21m penalty to settle SEC charges

Genesis Global Capital will pay a $21 million fine and enter a permanent injunction to resolve the SEC’s allegations. Genesis will seek an injunction alleging that it offered and sold securities without proper registration, according to a March 19 SEC…

March 19, 2024 at 1:41 pm

Gemini, Genesis motions to dismiss SEC Earn complaint denied

A U.S. judge found that a lawsuit alleging securities violation by crypto companies Gemini and Genesis was plausible.

March 13, 2024 at 8:36 pm

Crypto exchange Gemini planned public debute via Genesis merger, court documents show

Winklevoss’ crypto exchange Gemini was exploring an option to merge with crypto broker Genesis to compete with Coinbase and FTX. In October 2022, just a month before FTX filed for bankruptcy, Gemini co-founder Cameron Winklevoss discussed at a lunch with…

March 8, 2024 at 8:09 am

Digital Currency Group submits request to cancel New York AG lawsuit

Digital Currency Group, its subsidiary Genesis Global Capital, and DCG's founder and CEO, Barry Silbert, filed motions to dismiss a lawsuit filed by the New York Attorney General.

March 6, 2024 at 4:29 pm

Grayscale continues Bitcoin sell-off on Coinbase with $175m transfer

Crypto asset manager Grayscale has made a strategic move by transferring 3,443.1 Bitcoin, amounting to over $175 million, to an address associated with the Coinbase exchange.

February 24, 2024 at 5:36 pm

DCG files objection in bankruptcy court, calls out Genesis’ settlement subversive

Digital Currency Group (DCG) opposes the settlement between the New York Attorney General and Genesis. DCG filed a new application following an agreement with the prosecutor and Genesis, a bankrupt crypto lender that was one of DCG’s companies. Company executives…

February 22, 2024 at 10:36 am

Genesis granted court permission to sell $1.6b Grayscale GBTC shares

Grayscale’s GBTC may experience new sell pressure and outflows following a ruling in the Genesis bankruptcy case on Feb. 14.

February 14, 2024 at 7:41 pm

New York extends lawsuit against DCG to $3b after Genesis settlement

New York Attorney General Letitia James has revised a lawsuit against DCG and its affiliate Gemini Trust Co., escalating the demand for restitution to $3 billion.

February 9, 2024 at 8:32 pm

Bankrupt lender Genesis Global strikes settlement over NY fraud claims

Genesis Global, a bankrupt cryptocurrency lender, has reached a settlement with New York Attorney General Letitia James over allegations of defrauding customers through its now-defunct Gemini Earn program. The latest settlement aims to return assets to former Earn customers and…

February 9, 2024 at 8:08 am

Bankrupt Genesis seeks to sell over $1b worth of Bitcoin trust shares

Genesis Global Capital, a subsidiary of the embattled Genesis Global Holdco, has petitioned the U.S. Bankruptcy Court for the Southern District of New York for permission to conduct a massive sale of its assets

February 4, 2024 at 6:50 pm

Genesis agrees $21m SEC settlement in Gemini Earn lawsuit

The SEC’s civil lawsuit against Barry Silbert-backed Genesis has ended in a mutual settlement amid bankruptcy proceedings for the defunct crypto service provider.

February 1, 2024 at 7:31 pm