Crypto lender Genesis allegedly owes $900M to Gemini’s clients: Report By Cointelegraph

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Crypto lender Genesis and its mother or father firm Digital Forex Group (DCG) allegedly owe $900 million to Gemini’s purchasers, in keeping with a Monetary Occasions report disclosed on Dec. 3, citing folks acquainted with the matter.

The difficulty derives from the FTX dramatic collapse in November. Crypto change Gemini operates a product known as Gemini Earn in partnership with Genesis, providing traders the chance to earn 8% in curiosity by lending out their crypto, together with and stablecoins pegged to fiat currencies.

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