The Winklevii argue that their mega-withdrawal from Genesis were personal funds, a claim that has yet to be proven and slammed by Gemini users whose funds were left on the collapsed exchange.
FBI agents interviewed Cameron Winklevoss regarding allegations that Digital Currency Group boss Barry Silbert misrepresented the financial health of DCG’s now-bankrupt lending arm Genesis Global Capital.
Cameron Winklevoss tweeted 'An Open Letter to DCG boss Barry Silbert,' whose troubled Genesis Global Capital offshoot filed for bankruptcy protection in January.
The digital asset market has its optimism renewed following BlackRock's application to start a spot BTC ETF, but with ETFs' grim history with the SEC, this could prove to be a long shot for the firm.
Amid regulatory challenges in the United States, Gemini sets its eyes on the APAC region, with India as its primary focus, a nation known for enforcing stringent regulations on the digital asset market.
Silvergate Capital Corporation cites the recent regulatory developments for its decision to liquidate the bank, while Signature stresses its ties in the asset space are limited to the U.S. dollar.
Winklevoss twins announced that Gemini had "reached an agreement in principle" with Genesis Global Capital, DCG, "and other creditors on a plan that provides a path for Earn to recover their assets."
Sign traders' expectations proved true as Genesis Global Capital LLC's parent company officially filed for Chapter 11 bankruptcy following a tumultuous year for the 'crypto' house of cards.
Genesis Global is on the brink of filing for bankruptcy this week after being caught off guard by the 3AC collapse last year, but sources said talks are ongoing and plans could change.
The U.S. securities regulator has formally charged Genesis Global Capital LLC and Gemini Trust Company LLC for the unregistered offer and sale of securities in connection with the Gemini Earn digital asset lending program.
Cameron Winklevoss says some 340,000 Gemini Earn users have been “defrauded” by DCG subsidiary Genesis Global Capital and, by extension, by Silbert “and other key personnel.”