Crypto exchange gemini trying to recover

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Genesis and Gemini did not. And you too can have.

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Genesis Global Capital is suing Gemini Trust for allegedly making preferential transfers worth approximately $ million. The parent of bankrupt crypto lender Genesis said proposed framework would allow Gemini users to recover between 95% and % of their claims. Gemini, the crypto exchange controlled by the Winklevoss twins, will contribute $ million in cash to a recovery plan for bankrupt crypto.

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Key Points. The tension reached a new level when Gemini filed an adversary proceeding against Genesis on October In response, Genesis's legal team has called upon the court to utilize remedies provided by the United States Bankruptcy Code to rectify the perceived unfairness and restore parity among all creditors. Gemini has recently experienced a series of setbacks, including layoffs and a decline in trading volumes.