Gemini, a New York-based cryptocurrency exchange, has filed a lawsuit in the U.S. Bankruptcy Court Southern District of New York against digital asset lender Genesis, claiming rightful ownership of $1.6 billion in Grayscale Bitcoin Trust shares. The company is attempting to regain control of the shares to pay back customers of its Earn product who were left wondering what happened to their cash after the collapse of mega crypto exchange FTX last year. Gemini is alleging that Genesis has taken actions to harm Earn Users and to hinder and delay Earn Users’ recovery of their digital assets. Additionally, the New York Attorney General’s office recently sued Digital Currency Group, its subsidiary Genesis Global Capital, and Gemini Trust, alleging the companies defrauded customers of $1.1 billion. Cameron Winklevoss has alleged that DCG boss Barry Silbert has engaged in “bad faith stall tactics” to delay a resolution. #Gemini #Genesis #Grayscale #BitcoinTrust #CryptoExchange #Cryptocurrency #DigitalCurrencyGroup #DCG #FTX #DefraudedCustomers #BarrySilbert #CameronWinklevoss #TylyerWinklevoss
You can read more about this topic here: Decrypt: Gemini Sues Genesis for Control of $1.6 Billion in Grayscale Bitcoin Trust Shares
