on Nov. 16 following the downfall of major cryptocurrency exchange FTX.
The collapse of FTX in November has claimed several victims including crypto lender BlockFi and Core Scientific Inc , one of the biggest publicly traded crypto mining companies in the United States, both of which filed for bankruptcy protection in the following months. Genesis, its parent Digital Currency Group and creditors have exchanged several proposals, but have so far failed to come to an agreement, the BloombergGenesis did not immediately respond to a Reuters request for comment.
Genesis is also locked in a dispute with Gemini, founded by the identical twin crypto pioneers Cameron and Tyler Winklevoss. Gemini offered a crypto lending product called Earn in partnership with Genesis, and now says Genesis owes it $900 million in connection with that product.Genesis and Gemini with illegally selling securities to hundreds of thousands of investors through their crypto lending program.Our Standards:
CalvinAyre And the cryptocurrency exchange bankruptcy epidemic continues... Genesis FTXbankruptcy
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