Breaking: Gemini Exchange Owed Nearly $1 Billion By Genesis, DCG
Gemini Genesis News: Crypto exchange Gemini appears to be the latest victim of the contagion from FTX collapse, followed by adverse effects for BlockFi, Genesis and the Digital Currency Group (DCG). Earlier, crypto lender BlockFi officially filed for chapter 11 bankruptcy owing to the market effects caused by the FTX meltdown. While it remains to be seen as to how many more companies would fall victim to the FTX downfall, it is important to safeguard the interest of Gemini customers. According to latest reports, the crypto exchange is owed to the tune of nearly $1 billion by Genesis trading.
FTX’s LedgerX Is Up for Sale, Would-Be Buyers Including Blockchain.com and Gemini
LedgerX, one of the few solvent pieces of Sam Bankman-Fried’s crumbled FTX empire, is for sale and attracting interest from would-be buyers including crypto giants Blockchain.com and Gemini, according to people familiar with the matter.
Binance, Coinbase Among Six Crypto Firms Questioned by US Senator After FTX Mess
Senator Ron Wyden wrote letters to Binance, Bitfinex, Coinbase, Gemini, Kraken, and KuCoin, seeking answers on the risks consumers face when investing on their platforms.
Crypto Exchanges Nexo and Gemini Expand to Italy, Register With Regulator
Crypto service providers Nexo and Gemini have been approved for registration with an Italian regulator, allowing the platforms to serve customers in the country.
Gemini Gets Regulatory Greenlight in Italy, Greece Amid Lending Halt
Winklevoss brothers’ cryptocurrency exchange Gemini continues expanding in Europe, announcing new regulatory approvals in Italy and Greece.
Gemini Reveals $601M GUSD Backing, 45+ Licenses Amid Global Exchange Turmoil
The Winklevoss Twins-backed exchange Gemini has announced a “Trust Center” to display a breakdown of funds held on the platform. The <a href="https://www.gemini.com/trust-center">page</a>, hosted on the Gemini website, reveals that it holds over $4.6 billion in crypto assets with $601 million in the treasury to back its stablecoin GUSD.
Gemini Is Working With Genesis and DCG on Solution for Earn Redemptions
Gemini said it is working with Genesis and Digital Currency Group in an effort to find a solution that will allow users to redeem their funds from the crypto exchange's Earn product.
Galaxy Digital: Has No Exposure to Genesis Lending, Gemini’s Earn Program
Galaxy Digital Holdings Ltd., the crypto financial services firm founded by billionaire Michael Novogratz, has no exposure to Genesis’s lending business and Gemini Trust Co.’s Earn program, it said in a statement.
Crypto Exchange Gemini Suffers $485M Rush of Outflows Amid Contagion Fears
Data by blockchain intelligence platform <a href="https://www.nansen.ai/">Nansen</a> shows that Gemini saw $485 million in net outflows in the past 24 hours, the largest among crypto exchanges. Outflows totaled $563 million, and were offset by only $78 million in inflows. In the past seven days, Gemini experienced a total of $682 million net outflows – the difference of $866 billion of inflows and $1.55 billion of inflows provided by Nansen – suggesting that most of the withdrawals have occurred on Wednesday.
Gemini Restores Service to Crypto Exchange After Outage Spooks Investors
Crypto exchange Gemini today went down in a server outage for less than an hour, the platform said on Twitter.
