Crypto Lender Genesis Sues Gemini to Recover Over $689 Million in Preferential Transfers
Crypto lender Genesis has filed a lawsuit against cryptocurrency exchange Gemini to recover over $689 million in preferential transfers made through the Gemini Earn Program during the 90-day period prior to Genesis filing for Chapter 11 bankruptcy. Genesis claims that these withdrawals benefited Gemini at the expense of other creditors and is demanding the return of the funds. This comes as Gemini has filed a lawsuit against Genesis' parent company, Digital Currency Group, for allegedly masterminding a fraud scheme against creditors.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget Has Completed the Mines of Dalarnia (DAR) Token Swap and Rebranding to Dar Open Network (D)
HeLa Space Revolutionizes On-Chain Asset Management in Partnership with Aspis Protocol
Analyst Predicts Major Altcoin Surge After Bitcoin’s Post-Halving Cycle
Oklahoma proposes legislation to allow state workers and vendors to be paid in Bitcoin
Share link:In this post: Oklahoma Senator Dusty Deever has proposed the Bitcoin Freedom Act bill. The bill seeks to shield Oklahomans’ wages from inflation. Other states, such as Louisiana and Detroit, use cryptocurrency for government services.
Trending news
MoreCrypto prices
More
