Cryptocurrency trade Gemini filed an adversary continuing in opposition to bankrupt crypto lender Genesis International Holdco within the Southern District of New York Chapter Courtroom on Oct. 27. At subject is the destiny of 62,086,586 shares of Grayscale Belief (GBTC). They had been used as collateral to safe loans made by 232,000 Gemini customers to Genesis by way of the Gemini Earn Program. That collateral is at present price near $1.6 billion.
In line with the swimsuit, Gemini has acquired $284.3 million from foreclosing on the collateral for the advantage of Earn customers, however Genesis has disputed the motion, stopping Gemini from distributing the proceeds.
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