genesis

JPMorgan: We Are Bullish on Digital Assets Into 2025

October 18, 2024 Bitcoin.com

Bitcoin

Global investment bank JPMorgan is bullish on cryptocurrency into 2025, driven by regulatory shifts and geopolitical tensions. Analysts suggest a Donald Trump re-election as the U.S. president could propel BTC higher, reinforcing the “debasement trade” as investors seek refuge in digital assets. With major liquidations behind and institutional support increasing, JPMorgan sees strong momentum for […]

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US Regulators Extract $19,000,000,000 From Crypto Firms Through Enforcement Actions This Year: CoinGecko

October 14, 2024 The Daily Hodl

CFTC

A new report from crypto data aggregator CoinGecko reveals that US regulators have so far secured more than $19 billion in settlements from the digital asset industry in 2024. CoinGecko says the largest crypto enforcement action by monetary value as of October 9th was against bankrupt crypto exchange FTX and its affiliated trading firm Alameda […]

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Address Potentially Belonging To Bankrupt Crypto Lender Genesis Sends 5,000 ETH To Exchange: Arkham

September 24, 2024 The Daily Hodl

Arkham

The bankrupt crypto lending firm Genesis has potentially begun to move millions of dollars worth of Ethereum (ETH). Data from the digital asset deanonymizing platform Arkham shows that a crypto wallet collected 114,503 ETH worth nearly $360 million from an address belonging to Genesis Trading: Bankruptcy Distribution. According to Arkham, the receiving wallet may also […]

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Bankrupt Genesis Global Launches $4,000,000,000 Crypto and Cash Payout to Creditors

August 4, 2024 The Daily Hodl

Daily Hodl

A subsidiary of Barry Silbert’s Digital Currency Group (DCG) that collapsed during the last crypto winter has started repaying its creditors after completing bankruptcy restructuring. In a new press release, Genesis Global, along with affiliate companies, has already commenced the distribution of approximately $4 billion in digital assets and cash to creditors in accordance with […]

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New York Attorney General Reaches $50,000,000 Settlement With Crypto Exchange Gemini Over Fraud Allegations

June 15, 2024 The Daily Hodl

crypto

New York Attorney General Letitia James is settling with crypto exchange Gemini over fraud allegations for $50 million. In a new press release, James says she’s recovered $50 million worth of digital assets on behalf of 230,000 investors allegedly defrauded through Gemini’s Earn program, which had the firm partnering up with crypto lender Genesis to […]

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New York Recovers $50 Million From Gemini — Bans the Exchange From Crypto Lending in the State

June 15, 2024 Bitcoin.com

bitcoin.com

New York Attorney General Letitia James has secured a $50 million settlement from cryptocurrency exchange Gemini for Earn program investors. This settlement ensures that all defrauded investors will fully recover the assets they invested but were unable to withdraw when the program collapsed. Additionally, Gemini is now banned from operating any crypto lending program in […]

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$2.18 Billion Digital Assets in Kind Returned to Earn Users, Gemini Says

May 30, 2024 Bitcoin.com

Bankruptcy

Cryptocurrency exchange Gemini announced on Wednesday that Earn users have received $2.18 billion of their digital assets in kind, representing 97% of their assets owed and a 232% recovery since Genesis halted withdrawals. This recovery follows a settlement with Genesis and other creditors, ensuring that Earn users will receive 100% of their digital assets back […]

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New York Attorney General Says She Will ‘Go After’ Crypto Companies Who Don’t Play by the Rules

May 28, 2024 The Daily Hodl

Daily Hodl

New York Attorney General (NYAG) Letitia James is issuing a warning to crypto companies, saying that she will pursue those who act in violation of the law. In a post on the social media platform X, James says her sights are locked on erring digital asset firms. “Crypto companies must play by the same rules […]

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NY Attorney General Secures $2 Billion Settlement With Bankrupt Crypto Lender Genesis

May 21, 2024 Bitcoin.com

Bitcoin

New York Attorney General Letitia James has secured a $2 billion settlement with bankrupt cryptocurrency firms Genesis Global Capital, Genesis Asia Pacific, and Genesis Global Holdco. The settlement, which requires bankruptcy court approval, will establish a victims’ fund to compensate over 29,000 New Yorkers who invested more than $1.1 billion through the Gemini Earn program. […]

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Bankrupt Genesis Global Receives Court Approval for $3,000,000,000 Payout to Customers

May 19, 2024 The Daily Hodl

Daily Hodl

A US bankruptcy court has just greenlighted the liquidation plan of crypto lender Genesis Global to return about $3 billion to its creditors. In a memorandum decision, Judge Sean Lane says that Genesis’ Chapter 11 liquidation plan is reasonable and has been proposed in good faith. “The Court finds that the Plan should be confirmed […]

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