Gemini Files a Lawsuit Against Genesis
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Crypto exchange Gemini, owned by the Winklevoss twins, has filed a lawsuit against Genesis Global Capital demanding access to more than 62 million GBTC shares valued at $1.6 billion.

According to the document:

"Today, the stock is valued at approximately $1.6 billion. The amount fully covers and satisfies the claims of each Earn user."

According to the platform's lawyers, Genesis has agreed to provide GBTC shares as collateral for loans from exchange users under the Gemini Earn program.

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The document states:

"It is time to resolve these issues so that Genesis may move forward with a reasonable plan of reorganization and Gemini may distribute the proceeds of the collateral to Earn users."

On November 16 last year Genesis Global Capital froze the withdrawal of funds and issuance of new loans due to "increased demands" from customers following the collapse of FTX.

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