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Genesis sues Gemini over $689 million in customer withdrawals By Reuters

Genesis sues Gemini over $689 million in customer withdrawals By Reuters
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New York , United States , Letitia James , Dietrich Knauth , Mark Zuckerberg , Digital Currency Group , Exchange Commission , Gemini Trust Co , Genesis Global , Wednesday Genesis , Earn Users , New York Attorney General Letitia James , Meta Platforms , Gemini Earn ,

Genesis sues Gemini over $689 million in customer withdrawals

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. ....

New York , United States , Letitia James , Dietrich Knauth , Mark Zuckerberg , Digital Currency Group , Exchange Commission , Gemini Trust Co , Genesis Global , Wednesday Genesis , Earn Users , New York Attorney General Letitia James , Meta Platforms , Gemini Earn , Will Dunham ,