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Genesis

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CryptoCurrency

Genesis vs. Gemini: $689 Million Lawsuit Unravels Cryptocurrency Drama

  • Court documents filed on November 21 indicate that the legal action aims to recover the sum.
  • The CEOs of both companies publicly clashed, accusing each other of non-cooperation.
by Tareq Sikder
CryptoCurrency

Gemini Sues Genesis over $1.6 Billion Dispute in GBTC Shares

  • Genesis served as the primary lending partner for Gemini's Earn program.
  • An ongoing legal battle in the cryptocurrency industry involves Gemini, Genesis, and DCG.
by Tareq Sikder
CryptoCurrency

NY Attorney General Sues Gemini, Genesis, and DCG for Alleged Billion-Dollar Fraud

  • Genesis and DCG are accused of attempting to hide $1.1 billion in losses.
  • Gemini allegedly misled investors about the safety of its program with Genesis.
by Jared Kirui
CryptoCurrency

Genesis’ Exit: Crypto Lender Shuts Down All Trading Operations

  • The crypto lender is handling disputes with FTX and Gemini.
  • The closure of its operations affects both U.S. and international trading desks.
by Jared Kirui
CryptoCurrency

DCG’s Payment Plan on Shaky Ground as Genesis Lender Group Objects

  • The Ad Hoc Group called the agreement "wholly insufficient."
  • DCG proposed paying $830M seven years after Genesis' Chapter 11 plan becomes effective.
by Solomon Oladipupo
CryptoCurrency

FTX, BlockFI and Genesis’ Customer Data Exposed in “SIM Swapping Attack”

  • The crypto exchange, FTX said compromised customer data is “non-sensitive.”
  • However, the firm urged customers to be on high alert for scam emails.
by Solomon Oladipupo
CryptoCurrency

FTX Softens $4B Demand, Strikes $175M Settlement with Genesis

  • Both parties reached the agreement 'in principle' on or around July 20.
  • Genesis raised over $350M in customer, avoidance and loan claims against FTX.
by Solomon Oladipupo
CryptoCurrency

FTX and Genesis Global Strike Deal to Settle Bankruptcy Disputes

  • The crypto lender is reportedly owed USD $226 million by FTX.
  • FTX claims Genesis owes it USD $2 billion.
by Jared Kirui
CryptoCurrency

Gemini Sues DCG, Founder Barry Silbert over Genesis’ Debit in Earn Program

  • The exchange said that DCG lied about absorbing Genesis' 3AC losses.
  • DCG in a statement called Gemini's lawsuit another 'publicity stunt'.
by Solomon Oladipupo
CryptoCurrency

Dutch Crypto Exchange Bitvavo Expects at Least 80% Recovery from DCG

  • Genesis has reached an in-principle agreement with its creditors on a restructuring plan.
  • The DCG-owned crypto lender filed for bankruptcy protection on January 20th.
by Solomon Oladipupo
CryptoCurrency

Barry Silbert's DCG Sells Grayscale Assets to Raise Funds

  • The company is selling the assets at half price.
  • The funds will be used to repay creditors of the bankrupt lending business.
by Arnab Shome
CryptoCurrency

Crypto Lender Genesis Files for Bankruptcy in New York

  • Three companies have been named in the bankruptcy filings.
  • The lending business has estimated to have more than 100,000 creditors.
by Arnab Shome
CryptoCurrency

Genesis is Reportedly Preparing to File for Bankruptcy within Days

  • It is one of the many companies to collapse along with FTX.
  • The SEC recently charged Genesis and Gemini for selling unregistered securities.
by Arnab Shome
CryptoCurrency

SEC Takes Gemini, Genesis to Court for Selling Unregistered Securities

  • Genesis halted the withdrawals amid a liquidity crunch.
  • It owes about 340,000 Gemini Earn customers almost $900 million.
by Arnab Shome
CryptoCurrency

US DoJ and SEC Are Reportedly Probing Digital Currency Group

  • The authorities have not filed any indictment yet.
  • A DCG spokesperson denied any knowledge of such investigations.
by Arnab Shome
CryptoCurrency

Crypto Downzing Continues as Huobi Plans to Prune Workforce by 20%

  • Huobi wants "a very lean team" in the face of a bear market.
  • Genesis and Silvergate Capital have also announced job cuts.
by Solomon Oladipupo
CryptoCurrency

Crypto Lender Genesis Seeks $1B Emergency Loan

  • The company sought the loan before pausing withdrawals.
  • A spokesperson confirmed that it is now in talks with potential investors.
by Arnab Shome
FinTech

Accel Leads $45 Million Series B Funding in UK Fintech Genesis

  • Genesis has now raised $50 million since its first external capital injection in November 2018.
by Aziz Abdel-Qader
Institutional FX

StoneX Picks Genesis for Digitisation of Middle Office Workflows

  • The company has selected Genesis low-code application platform to fully automate its middle office workflows.
by Bilal Jafar
Institutional FX

FDCTech to Fully Acquire Financial Services Firm Genesis

  • Both the companies have signed a non-binding letter of intent for the deal.
by Arnab Shome
Executive Moves

Dan Torrey Is Secured as Lukka's New Head of Institutional Sales

  • Torrey brings more than twenty-five years of experience from Wall Street in sales, product and liquidity management.
by Tom Hazan
Technology

Brazil’s B3 Exchange Deploys Low-code Technology from Genesis

  • B3 taps into Genesis’ Proof-of-Concept (PoC) to process and test millions of real-time post-trading allocation messages.
by Aziz Abdel-Qader
Institutional FX

Genesis Integrates Symphony’s Collaboration Platform

  • The integration brings secure and compliant ‎messaging to Genesis’s low-code application platform for innovation projects.‎
by Aziz Abdel-Qader
Executive Moves

Genesis Recruits Martin Sreba as Global Head of Strategic Accounts

  • Sreba brings wide experience as a product strategist and in growing businesses.
by Tom Hazan
Institutional FX

Citi Invests in Low-Code Application Provider Genesis

  • The terms and amount of investment are undisclosed.
by Arnab Shome
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