Report post

How much does Genesis owe Gemini customers?

Dec 3 (Reuters) - Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins' crypto exchange Gemini $900 million, the Financial Times reported on Saturday.

Does Genesis owe $900 million to the Winklevoss twins' Gemini exchange?

Crypto broker Genesis owes $900 million to the Winklevoss twins’ Gemini exchange. A report Saturday (Dec. 3) by the Financial Times (FT) says brothers Tyler and Cameron Winklevoss are trying to recover the funds after Genesis was impacted last month by the collapse of the FTX exchange.

Who owes $575 million to Genesis?

Venture capital company Digital Currency Group, which owns Genesis Trading and cryptocurrency asset manager Grayscale, owes $575 million to Genesis' crypto lending arm, Digital Currency Chief Executive Barry Silbert told shareholders last month.

How much money did Genesis lend to DCG?

Genesis loaned over $500 million worth of cash and bitcoin to DCG, in part to fund founder Silbert’s venture investments. DCG will also contribute to Genesis “all equity” in Genesis’ trading subsidiary, which remained operational during the bankruptcy.

Related articles

The World's Leading Crypto Trading Platform

Get my welcome gifts