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DCG Misses $630M Payment to Gemini, Faces Lawsuit Threat and Bankruptcy Dispute

Digital Currency Group (DCG) has failed to make a $630 million payment to Gemini, leading to threats of legal action from Gemini CEO Cameron Winklevoss. The dispute centers around a $900 million loan that Genesis, a DCG entity, filed for Chapter 11 bankruptcy over. Both Genesis and CoinDesk are owned by DCG, and the U.S. SEC has accused both firms of selling unregistered securities through their Earn program. Gemini is seeking the return of over $1.1 billion in digital assets from Genesis for its over 200,000 Earn users and is proposing an amended reorganization plan that doesn't require DCG's approval.

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