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According to Bloomberg, there has been a disagreement between Gemini and DCG's lending institution Genesis since November 2021. At that time, Genesis suspended customer withdrawals and owed about $900 million to users of the Gemini Earn program.

Cameron Winklevoss, co-founder of Gemini, accused DCG and its CEO Barry Silbert of engaging in fraudulent activities during the collapse of Genesis.

Hilbert denied these accusations, calling Winklevoss's claims "yet another baseless public attack."

Gemini accused DCG and its subsidiary Genesis of fraudulent activities in its Earn program and filed a lawsuit in the Southern District of New York in January this year, claiming that Genesis deceived over 230,000 Gemini users.

As part of the settlement, Genesis agreed to pay Gemini $1.59 billion in cash, as well as $111 million worth of Bitcoin and AVAX tokens, which will be used to compensate affected Earn users. Additionally, Gemini will also receive equity in DCG.
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GateUser-3824aa38vip
· 8h ago
Tsk tsk, it's another broken reconciliation.
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GasFeeNightmarevip
· 8h ago
The team battle has started, retail investor Rekt.
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MiningDisasterSurvivorvip
· 8h ago
Another funding trap has collapsed. Do you still want to learn the 18-year eh trap?
View OriginalReply0
metaverse_hermitvip
· 8h ago
gm It's another day of dual precious metals fighting and being caught by retail investors.
View OriginalReply0
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