Browsing:Genesis

Genesis seeks court nod to sell $1.4 billion in Bitcoin shares amid financial woes
3 weeks ago 1 min read

Genesis seeks court nod to sell $1.4 billion in Bitcoin shares amid financial woes

Genesis, which is having financial issues, is seeking permission from the court to sell off a sizable amount of its digital currency holdings, with a target price of about $1.4 billion in shares of GBTC. Crypto lender Genesis’s move comes while the company is navigating bankruptcy procedures to sell off assets and regain stability. To help with its financial difficulties, Genesis is asking the court to approve the sale of $1.4 billion worth of assets, including a sizable amount of its GBTC shares. The crypto lender hopes to ease its financial burden and create a path for recovery during bankruptcy

Gemini and Genesis have filed a motion to dismiss a lawsuit filed by the SEC
9 months ago 1 min read

Gemini and Genesis Seek to Dismiss SEC Lawsuit

Gemini and Genesis, two cryptocurrency companies, have filed a motion to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC) alleging that their Earn offering violated securities laws. The Earn offering allowed users to earn interest on their cryptocurrency deposits by lending their coins to Genesis. Genesis then invested the coins in various ways, including lending them to other cryptocurrency companies. The SEC alleges that the Earn offering was unregistered security because it involved the sale of investment contracts. An investment contract is a contract that gives the buyer the right to participate in the profits of an