Bankrupt Genesis Sues Crypto Firm Gemini to Recover $690 Million bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.
Crypto lender Genesis
Global on Tuesday sued partner Gemini Trust Co, seeking to
recover more than $689 million that customers of the companies
withdrew during a run on the bank that caused Genesis.
Genesis sues Gemini over $689 million in customer withdrawals biztoc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biztoc.com Daily Mail and Mail on Sunday newspapers.
NEW YORK (Reuters) -Crypto lender Genesis Global on Tuesday sued partner Gemini Trust Co, seeking to recover more than $689 million that customers of the companies withdrew during a "run on the bank" that caused Genesis to collapse into bankruptcy. U.S. bankruptcy law allows those withdrawals to be clawed back so Genesis can make a fairer redistribution among all of its creditors, according to the lawsuit, which was filed in federal bankruptcy court in New York. Gemini said on Wednesday Genesis should fully repay customers, rather than attempting to claw back funds from users who made withdrawals.
Bankrupt Genesis Sues Crypto Firm Gemini to Recover $690 Million bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.