Genesis


Policy

Gemini and Genesis Can Be Sued by SEC Over Defunct Earn Product, Judge Rules

The judge found that the SEC’s complaint “plausibly alleges” that the two crypto firms offered and sold unregistered securities via Gemini Earn.

SEC logo (Nikhilesh De/CoinDesk)

Finance

DCG's Barry Silbert Pitched Genesis-Gemini Merger in a Drastic Bid to Save the Lender in 2022

Silbert’s motion to dismiss the New York Attorney General’s $3 billion lawsuit contains emails from around the time 3AC failed and the Genesis and Gemini loans business began to seize up.

DCG CEO Barry Silbert (CoinDesk archives)

Policy

Winklevoss Twins' Gemini Promises to Return $1.1B to Earn Customers

The pact is tied to the bankruptcy of Genesis Global Capital, Gemini's partner for its Earn program.

Gemini founders Tyler and Cameron Winklevoss. (Joe Raedle/Getty Images)

Policy

DCG Calls Out Subsidiary Genesis' Settlement With New York as 'Subversive'

DCG filed an objection in bankruptcy court to the deal its own subsidiary secured to end the New York attorney general's investigation of fraud and money laundering controls.

Barry Silbert. CEO & Founder Digital Currency Group (DCG)

Policy

New York Expands Fraud Case Against Digital Currency Group to $3 Billion

An initial lawsuit accusing crypto firm DCG of cheating people out of $1 billion has been amplified by investors coming forward with losses tripling that, the NY attorney general said.

Barry Silbert. CEO & Founder Digital Currency Group (DCG)

Finance

Genesis Seeks Approval to Sell $1.6B in Bitcoin, Ether Trust Holdings

Nearly $1.4 billion of Genesis’ assets were held in Grayscale Bitcoin Trust (GBTC), which has since converted to a spot exchange-traded fund (ETF).

Sale (Justin Lim/Unsplash)

Policy

DCG Can't Sell or Reduce Ownership of Genesis Until Bankruptcy Proceedings Close, Judge Rules

Genesis requested a New York bankruptcy court to bar ownership changes to secure tax benefits on around $700 million worth of operating losses.

Genesis filed for bankruptcy in January 2023 (Richard Mortel/Flickr)

Policy

Genesis-DCG Propose to Settle Lawsuit: Bankruptcy Filing

DCG has paid about $227.3 million to Genesis so far and plans to pay another $275 million it owes by April.

Barry Silbert. CEO & Founder Digital Currency Group (DCG)

Policy

Genesis Sues Gemini to Recover 'Preferential Transfers' Worth $689M

Genesis and Gemini have been embroiled in a public and legal feud since the collapse of FTX.

Genesis (Spencer Wing/Pixabay)

Videos

GROK Token Interest Climbs; Former FTX Execs Will Reportedly Start New Crypto Exchange

"CoinDesk Daily" host Jennifer Sanasie breaks down the hottest crypto headlines today, including the interest behind a token inspired by Grok AI, an artificial intelligence service by Elon Musk-owned social app X. The Wall Street Journal reports a new crypto exchange will be launched by former FTX executives. And, court documents show Genesis has agreed to settle $1 billion in claims by defunct hedge fund Three Arrows Capital. CoinDesk and Genesis are both owned by DCG.

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