Earn Users News Today : Breaking News, Live Updates & Top Stories | Vimarsana

After filing for bankruptcy, crypto lender Genesis Global is suing Winklevoss twin's company Gemini to recover over $689 million

Genesis in the lawsuit said up to 230,000 users in the two companies' "Earn" investing program withdrew more than half of billion dollars from the crypto lending platform in the 90 days before it filed for bankruptcy in January.

NEW YORK (Reuters) -Crypto lender Genesis Global on Tuesday sued partner Gemini Trust Co, seeking to recover more than $689 million that customers of the companies withdrew during a "run on the bank" that caused Genesis to collapse into bankruptcy. U.S. bankruptcy law allows those withdrawals to be clawed back so Genesis can make a fairer redistribution among all of its creditors, according to the lawsuit, which was filed in federal bankruptcy court in New York. Gemini said on Wednesday Genesis should fully repay customers, rather than attempting to claw back funds from users who m...

Cryptocurrency exchange Gemini has sued bankrupt Genesis Global Holdco over collateral used in the Gemini Earn program.

Gemini Trust Co., a leading cryptocurrency platform, has initiated legal action against the now-insolvent crypto lender, Genesis Global Holdco LLC.