Genesis Sues Gemini to Recuperate ‘Preferential Transfers’ Value $689M

Genesis and Gemini have been embroiled in a public and lawful feud at any time due to the fact the collapse of FTX. Genesis submitted for personal bankruptcy in January. Its mum or dad firm, Electronic Currency Team (DCG), was sued by Gemini in July about allegations that DCG then described as “defamatory” and a “publicity stunt.” In September, Genesis sued its dad or mum firm, DCG, seeking the compensation of a number of loans value about $600 million. And then, in October, Gemini sued Genesis more than 60 million shares of the Grayscale Bitcoin Belief (GBTC), valued at all around $1.6 billion. Gemini’s co-founders are the Winklevoss twins, Tyler and Cameron.