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Gemini Crypto Exchange News

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Cameron Winklevoss Pens Letter Calling for DCG Head’s Resignation

Cameron Winklevoss – one half of the Winklevoss Twins which run the digital currency exchange Gemini in New York – has penned a letter calling for the resignation of Barry Silbert, the man who runs the Digital Currency Group (DCG). Cameron Winklevoss to Barry Silbert: Resign! Cameron stated that…

Top US law firm tells Gemini Earn victims to take action

Rosen law firm has reminded Gemini victims to come forward and join its lawsuit filed against Gemini and its founders over their failed Earn product before the Feb. 27, 2023 lead plaintiff deadline. Rosen pushes Gemini Earn investors  Having filed a class action lawsuit against Gemini cryptocurrency exchange and…

Gemini dollar shows signs of volatility, OKX delists stablecoin

The Gemini dollar (GUSD) started showing signs of volatility — depegging from the US dollar. According to CoinMarketCap (CMC) data, GUSD’s price has not been stable over the past month. The stablecoin issued by the U.S.-based cryptocurrency exchange, Gemini, plunged to $0.985 at 2 pm London time on Jan.…

New York financial regulator investigates Gemini over FDIC claims: Report

New York State’s Department of Financial Services is reportedly investigating cryptocurrency exchange Gemini over claims the firm made in regards to assets under its Earn lending program. According to a Jan. 30 report from Axios, the “New York State agency that regulates Gemini” — the Department of Financial Services…

Matrixport Joins Growing List of Crypto and Blockchain Companies Letting Employees Go

The crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company’s staff, according to reports published on Friday. Matrixport’s COO, Cynthia Wu, cited a “shift in the regulatory climate” and “industry-wide capitulations” as reasons for the layoffs. Matrixport Lays Off 10% of…

Nifty Gateway Founders Resign

Duncan Cock Foster and Griffin Cock Foster, who were both co-founders of the nonfungible token (NFT) auction platform Nifty Gateway, announced their resignations in a thread that was posted on Twitter on January 25. Their departure is effective immediately. In an attempt to justify their departure, Duncan said that…

Nifty Gateway co-founders resign amid Gemini woes

In a Twitter thread posted on Jan. 25, Duncan Cock Foster and Griffin Cock Foster, co-founders of nonfungible token (NFT) auction platform Nifty Gateway, announced their resignations effective immediately. In supporting the decision, Duncan said they were leaving because “Griffin and I are founders at heart, and we want…

Gemini to lay off another 10% of its task force

Gemini is reportedly releasing 10% of its task force, citing fraud from “bad actors.” It is considered the third stage of the organization’s staff release since 2022. Gemini conducts a third round of layoffs Amid Gemini’s turmoil with Barry Silbert and Genesis’ Parent firm, Digital Currency Group, the cryptocurrency…

Genesis eyes fast resolution to creditor disputes and bankruptcy exit in May

A lawyer for bankrupt crypto lending firm Genesis is optimistic the firm can resolve its creditor disputes as early as this week and the company could come out of Chapter 11 proceedings by late May. Genesis’ lawyer Sean O’Neal made the comments at a Jan. 23 initial hearing at…

Crypto exchange Gemini launches new electronic OTC trading solution

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages to institutional traders including: Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers…

Investors Are Suing the Gemini Exchange Over Alleged Fraud

Investors in the Gemini exchange in New York are suing the company and its founders – Cameron and Tyler Winklevoss – for fraud. Gemini Is Being Sued It is alleged in a class-action lawsuit that the company is in violation of the Exchange Act. A complaint was filed against…

Bybit CEO clarifies company’s exposure to Genesis

On January 20, 2019, renowned cryptocurrency lender Genesis Global Trading became the latest firm to declare bankruptcy in the aftermath of the collapse of FTX. Genesis Global Trading filed for protection under Chapter 11 in New York, becoming the fourth company to do so. On the other hand, the…

Reactions to Genesis Global Trading’s Bankruptcy

Members of the cryptocurrency community expressed their opinions on the situation on social media shortly after the crypto lender Genesis Global Trading filed for protection under Chapter 11 of the United States Bankruptcy Code in the state of New York. Members of the crypto community shared their opinions on…

Crypto Lender Genesis Files for Bankruptcy

Key Takeaways Genesis has filed for bankruptcy. The crypto lender owes over $3.5 billion to its top 50 creditors. Gemini co-founder Cameron Winklevoss is threatening to sue DCG CEO Barry Silbert. Share this article URL Copied Digital Currency Group subsidiary Genesis Global Capital has filed for bankruptcy protection. It…

Cameron Winklevoss praises Genesis’ bankruptcy

Cameron Winklevoss, a co-founder of the Gemini crypto exchange, treats Genesis’ bankruptcy as a good chance to recover his clients’ funds. Genesis participants to acquire back their assets Amid the crypto organizations’ fallout yesterday, Genesis filed for bankruptcy after a long battle to give back and earn users their digital…

Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit

Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations and facilitate the restructuring process.” Genesis’ Bankruptcy…

Bybit CEO offers clarity on exposure to Genesis, but community demands more

Genesis Global, a prominent crypto lender, filed for Chapter 11 bankruptcy protection in New York on Jan. 20, becoming the latest company to declare bankruptcy in the wake of FTX’s collapse. However, the focus of the crypto community has shifted towards other crypto firms that had exposure to the…

MakerDAO community to protect DAI from Gemini Earn

Decentralized finance giant MakerDAO’s community has commenced governance polls on how best to manage the minting of DAI using GUSD, given Gemini’s financial crisis. The community of MakerDAO, one of the largest decentralized finance (DeFi) protocols, will partake in two voting processes that will decide how to limit DAI’s…

Crypto.news weekly recap: former FTX boss maintains innocence, Nexo’s woes, DCG and Gemini face-off

The last week in crypto was mixed with fresh updates and ongoing controversies. A new scandal emerged as new allegations were leveled against the crypto lender, Nexo, with reports accusing the regulated CeFi of criminal activities. The FTX case continued to unfold, with founder Sam Bankman-Fried maintaining his innocence.…

Osprey Vies for Control of Grayscale’s Bitcoin Trust; Tron’s Justin Sun Offers to Invest Up to $1B on DCG Assets

Following charges by the U.S. Securities and Exchange Commission against the crypto exchange Gemini and the digital currency lender Genesis, Tron founder Justin Sun told the press that he may be able to purchase assets from Genesis, up to $1 billion, “depending on their evaluation of the situation.” Additionally,…

Gemini facing a class action lawsuit for concealing risks in its Earn program

Rosen Law Firm, a global investor rights law in New York, is leading a class action against Gemini, a cryptocurrency exchange, and its founders, Tyler and Cameron Winklevoss, over the ramp’s alleged concealment of risks in their Earn product. Rosen Law advises more investors to join the lawsuit Rosen…

Gemini and Genesis’ legal troubles stand to shake up industry further

With investor confidence seemingly at an all-time low thanks to the recent slew of insolvencies, a new saga seems to be now unfolding in real time. This one involves crypto exchange Gemini’s Winklevoss twins and Barry Silbert, CEO of Digital Currency Group (DCG) — the parent firm behind crypto…

Total crypto market cap closes in on $1T right as Bitcoin price moves toward $20K

The total cryptocurrency market capitalization reached its highest level in over two months on Jan. 13 after breaking above the $900 billion mark on Jan. 12. While the 15.5% year-to-date gain sounds promising, the level is still 50% below the $1.88 trillion crypto market cap seen before the Terra-Luna…

SEC Files “Totally Counterproductive” Charges Against Gemini and Genesis

Key Takeaways The SEC is accusing both Gemini and Genesis of offering unregistered securities to retail customers through the Gemini Earn program. Genesis currently owes Gemini customers $900 million. Gemini co-founder Tyler Winklevoss called the SEC’s actions “totally counterproductive.” Share this article URL Copied The SEC is accusing both…

US SEC charges Genesis and Gemini with unregistered securities offerings

SEC has charged Genesis and Gemini of illegally marketing securities to investors. In a complaint filed on Jan. 12, SEC claims that Gemini Earn, a crypto lending program, is unlawful.  Genesis, a unit of the Digital Currency Group, agreed to collaborate with Gemini in December 2020 to give Gemini…

Digital Currency Group CEO Barry Silbert Responds to Accusations by Gemini’s Cameron Winklevoss With Shareholders Letter

Barry Silbert, CEO of Digital Currency Group (DCG), has released a letter to shareholders in response to a recent open letter from Gemini CEO Cameron Winklevoss. The letter, issued Tuesday by Winklevoss, calls for the DCG board to force Silbert to step down as CEO. Silbert shared his letter…

Dutch exchange Bitvavo rejects DCG’s proposal to repay 70% of debt

Cryptocurrency exchange Bitvavo, a major creditor of the troubled crypto company Digital Currency Group (DCG), has dismissed DCG’s proposal of partial debt repayment. Bitvavo officially announced on Jan. 11 that the firm received a counter proposal from DCG offering to repay about 70% of the outstanding amount in a…

Gemini Co-Founder Accuses Digital Currency Group of Misrepresentation, Demands CEO Resignation

Gemini CEO Cameron Winklevoss has published another open letter on Twitter, addressed to the board members of Digital Currency Group (DCG). In the letter, Winklevoss accuses DCG and CEO Barry Silbert of making poor decisions with the now-defunct crypto hedge fund Three Arrows Capital (3AC), and claims that DCG…

Gemini’s Cameron Winklevoss calls for DCG CEO Barry Silbert’s removal

On Jan. 10, one of the co-founders of the crypto exchange Gemini, Cameron Winklevoss, publicly called for the removal of the DCG CEO, Barry Silbert, in an open letter addressed to the crypto investment firm’s board of directors. The open letter published on Jan. 10 serves as a formal…

Gemini’s Cameron Winklevoss Calls for Barry Silbert’s Ousting as DCG CEO

Key Takeaways Gemini co-founder Cameron Winklevoss published an open letter addressed to the Digital Currency Group board today. Winklevoss called on the board to oust Barry Silbert as DCG CEO. He claimed Silbert “carefully crafted a campaign of lies” around Genesis’ financial health to trick lenders into providing more…

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