(Reuters) - Cryptocurrency exchange Gemini Trust Co said on Saturday that crypto lender Genesis has filed a motion in U.S. Bankruptcy Court authorizing a sale of trust assets and seeking authorization to monetize its interests in two Grayscale Ethereum trusts, securities that provide investors exposure to cryptocurrency.
The motion filed by Genesis late on Friday seeks authority for Gemini to monetise the initial collateral of 30,905,782 shares of Grayscale Bitcoin Trust, Gemini said. Genesis has requested an expedited hearing on the motion on Feb. 8, Gemini said in a statement.
The motion filed by Genesis late on Friday seeks authority for Gemini to monetize the initial collateral of 30,905,782 shares of Grayscale Bitcoin Trust, Gemini said. This week, Genesis settled a U.S. Securities and Exchange Commission lawsuit over its defunct Gemini Earn lending program.
Cryptocurrency exchange Gemini Trust
Co said on Saturday that crypto lender Genesis has filed a
motion in U.S. Bankruptcy Court authorizing a sale of trust
assets and seeking authorization to monetize. -February 03, 2024 at 02:28 pm EST
- MarketScreener