Gemini Clients File For Class Action Against Genesis, DCG
With every passing day, Genesis ’ wounds are getting deeper. In November, Genesis Global Capital [GGC], the lending business of Genesis Trading, suspended redemptions. Right after, the company sought a $1 billion emergency loan. It also warned that it would go bankrupt without funding support. By the end of the month, the firm was in discussions with restructuring lawyers in order to steer away from insolvency. Then, in December it was reported that the lender’s parent company, the Digital Currency Group [DCG] was attempting to raise capital to save Genesis ’ sinking ship. The same was allegedly being done “in part” to stave off the immediate repayment of a loan to Todd Boehly’s investment house. Read More: DCG has a $350M Loan If Crypto Lender Genesis Goes Bankrupt Trouble Mounts Up Further For Genesis Now, there’s more to add to the crypto lender’s woes. Three Gemini Earn users have filed a request for class action arbitration against GGC and DCG. Thi...