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Crypto broker Genesis owes Gemini customers $900-million: FT

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Cryptocurrency broker Genesis and its parent DCG owe customers of crypto exchange Gemini $900-million, the FT reported.

and its parent company, Digital Currency Group , owe customers of the Winklevoss twins’ crypto exchange Gemini US$900-million, the Financial Times reported at the weekend.

DCG, a venture capital company that owns Genesis Trading and cryptocurrency asset manager Grayscale, owes $575-million to Genesis’s crypto lending arm, DCG CEO Barry Silbert told shareholders last month. Gemini, which runs a crypto lending product in partnership with Genesis, has now formed a creditors’ committee to recoup the funds from Genesis and its parent DCG, the report added.

 

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