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Home » Genesis sues Gemini over $689 million in customer withdrawals – Reuters

Genesis sues Gemini over $689 million in customer withdrawals – Reuters

Genesis sues Gemini over $689 million in customer withdrawals – Reuters

CompaniesGemini Trust Company LLCGenesis Global Recruiting IncMeta Platforms IncNEW YORK, Nov 22 (Reuters) – Crypto lender Genesis Global on Tuesday sued partner Gemini Trust Co, seeking to recover more than $689 million that customers of the companies withdrew during a “run on the bank” that caused Genesis to collapse into bankruptcy.Genesis in the lawsuit said up to 230,000 users in the two companies’ “Earn” investing program withdrew more than half of billion dollars from the crypto lending platform in the 90 days before it filed for bankruptcy in January.U.S. bankruptcy law allows those withdrawals to be clawed back so Genesis can… 

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