Cryptocurrency change Gemini filed an adversary continuing in opposition to bankrupt crypto lender Genesis World Holdco within the Southern District of New York Chapter Courtroom on Oct. 27. At challenge is the destiny of 62,086,586 shares of Grayscale Belief (GBTC). They have been used as collateral to safe loans made by 232,000 Gemini customers to Genesis by means of the Gemini Earn Program. That collateral is presently value near $1.6 billion.
Based on the go well with, Gemini has acquired $284.3 million from foreclosing on the collateral for the good thing about Earn customers, however Genesis has disputed the motion, stopping Gemini from distributing the proceeds.
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