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Gemini co-founder Cameron Winklevoss initially of fraudulent activity within his but a series of bad bets made last year severely offer creditors a fair deal.

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The deal announced Tuesday will become part of Genesis's proposed payout plan for its creditors. That plan will be sent to creditors for a vote. Crypto lending firm Genesis, a subsidiary of Digital Currency Group (DCG), will stop offering spot and derivatives trading for crypto assets. Genesis' U.S.-focused spot crypto trading business will shut down later this month, a move that may affect Genesis' restructuring process.