Gemini Withdrew About $282 Million From Genesis Before It Went Bankrupt
According to sources cited by Bloomberg on September 28th, Gemini Trust Co. withdrew hundreds of millions of dollars from Genesis Global Holdco LLC months before Genesis froze deposits and eventually filed for bankruptcy. In August 2022, Gemini extracted approximately $282 million worth of cryptocurrency from Genesis.
Gemini: Plans to Increase Employees in India From 70 to More Than 150 in the Next Two Years
Cryptocurrency exchange "Gemini" claimed on social media that India is a leading center for entrepreneurship and technological development. In the next two years, we plan to double the number of employees in our Gurugram office, from 70 to over 150 people.
Gemini Seeks To Rally Creditors for Bigger Payout From Bankrupt Genesis’ Parent Company
Gemini, a cryptocurrency exchange, is reportedly attempting to gather support from other creditors to increase the amount of money recovered from Digital Currency Group (DCG), the parent company of bankrupt crypto lending firm Genesis. The proposed plan involves some creditors providing funds to pay others back quickly in exchange for a larger share of any money won from suing DCG.
Gemini Has Filed a Defense To Dismiss the SEC’s Lawsuit Regarding the Gemini Earn Project
August 19th, cryptocurrency trading platform Gemini submitted a reply supporting the dismissal of the lawsuit filed by the US Securities and Exchange Commission (SEC) regarding the Gemini Earn project. The SEC claims that by establishing the Gemini Earn program and providing users with the opportunity to lend digital assets to Genesis based on specific loan agreements, Gemini participated in the illegal sale of unregistered securities. This means that the SEC must prove two things: (1) the existence of securities and (2) the sale of "such securities".
10798 BTC Transferred From Gemini to Unknown Wallet
According to Whale Alert monitoring, at 7:00:24 today Beijing time, 10,798 BTC (approximately $317,738,036) was transferred from Gemini to an unknown wallet.
An Address Transferred 80.52 Million SANDs to CEX Early This Morning, With a Total Value of About 32.55 Million US Dollars
80.52 million SAND tokens (approximately $32.55 million) starting with 0x73b were transferred to CEX early this morning, as monitored by Yu Jin. Among them, 70 million SAND tokens were transferred to Binance, 10 million SAND tokens were transferred to OKX, and 529,000 SAND tokens were transferred to Gemini.
Gemini Suspects Price Glitch, XRP Hit $50
Several members of the cryptocurrency community on X (Twitter) have posted screenshots of a price malfunction for XRP on Gemini. The screenshots show that the displayed price of XRP on Gemini has repeatedly risen to over $1, and even spiked to $50 at one point. However, according to data from CoinGecko, the current market price for XRP is $0.63.
Meanwhile, as of 1:25 AM UTC on August 11th, Gemini announced that it has conducted a comprehensive maintenance of its platform.
DCG Seeks Dismissal of Gemini's Fraud Lawsuit Over Earn Lending Service
Digital Currency Group(DCG) has filed a motion to dismiss a fraud lawsuit brought by Gemini exchange, alleging that Gemini is trying to shift blame for the problems at its Earn lending service. Gemini's lawsuit claims that DCG and its founder, Barry Silbert, committed fraud through DCG's Genesis subsidiary that held funds for Gemini's Earn program. <br>
Ripple Scores Partial Victory in SEC Lawsuit, XRP Soars 80%
Ripple Labs has won a partial victory in its legal battle with the US Securities and Exchange Commission (SEC), as a judge ruled that the sale of Ripple's XRP tokens on exchanges and through algorithms did not constitute investment contracts. However, the institutional sale of the tokens did violate federal securities laws.
5 Cryptocurrency Exchanges Trying to Grow in Africa: Bybit, Kraken, Coinbase, Binance, and Gemini
Despite the lack of recognition from most African governments, cryptocurrency traders are still utilizing various exchanges across the continent. These exchanges offer different transaction costs and trading options, allowing customers to track their investments. Among the recommended exchanges are Bybit, Kraken, Coinbase, Binance, and Gemini, with the latter two prioritizing security and offering tools for passive income generation. Gemini is also a qualified custodian under the New York State Department of Financial Services, emphasizing its regulatory compliance.
