NFT News by Thebittimes.Com

Gemini wrote to a federal judge asking the bankruptcy court to invalidate any claims Genesis has to a trove of Grayscale Bitcoin Trust (GBTC) shares in an ongoing dispute between both the two crypto entities. The lawsuit filed on Oct. 27 seeks ownership over some 60 million GTBC shares offered as collateral by Genesis Global, a now-defunct crypto lender under the Digital Currency Group (DCB) umbrella and Gemini’s former partner for its Earn program. Gemini said the GBTC shares worth $1.6 billion “would completely secure and satisfy the claims of every single Earn User”, around 340.000 users left stranded since Genesis froze withdrawals in late 2022. The complaint comes amid Genesis’ bankruptcy proceedings and Gemini noted that the beleaguered crypto lender might repay its creditors with assets rightly belonging to Earn customers. Genesis and Gemini remain locked in a legal wrestling match following FTX’s implosion. Several marquee crypto entities fell into insolvency around th...

Plaintiffs have alleged that the products have not been registered, which prevented them from receiving disclosures to better assess the risks of using Gemini Earn. Tyler and Cameron Winklevoss, founders of Gemini cryptocurrency exchange, are reportedly facing a new lawsuit from investors over interest -earning program Gemini Earn. Disgruntled investors have filed a lawsuit against Gemini founders, accusing the firm of fraud and violations of the securities laws, according to a report by Bloomberg. Filed on Dec. 27 in Manhattan federal court, the complaint states that Winklevoss brothers refused to “honor any further investor redemptions” after halting those due to exposure to troubled trading firm Genesis Global Capital. The plaintiffs alleged that the products have not been registered, which prevented them from receiving disclosures to better assess the risks of using Gemini Earn. Launched last year, Gemini Earn platform was designed to generate as much as 8% in interest on their...

Numerous cryptocurrency businesses have been parading their operations in Europe. While many people believe that Europe may become the next hotspot for cryptocurrencies, another exchange joined the euro bandwagon. Gemini, the Winklevoss twins’ exchange, recently succeeded in getting approval from regulators in Italy. Gemini had recently acquired a virtual asset service provider registration in Ireland. Now, as per the recent announcement, the exchange has now registered as a virtual currency operator in Italy and Greece . Gemini registered as a virtual currency operator in Italy and Greece “We are thrilled to announce that Gemini has registered as a Virtual Currency Operator with Italy’s payments services regulator, the Organismo Agenti E Mediatori (OAM), and as a custodial wallet provider and provider of exchange services between virtual and fiat currencies with Greece ’s Hellenic Capital Markets Commission (HCMC).” As per the details, the exchange ...