Gemini has formed a creditor committee to try to recoup funds from Genesis, as well as Genesis parent company DCG.
Genesis owes $900 million to customers of Gemini Earn
After a domino effect in which Gemini suspended withdrawals from its "Earn" lending product due to Genesis suspending withdrawals due to FTX's collapse, it's been revealed by the FT that Genesis holds around $900 million in Gemini customer assets.
- "Crypto broker Genesis owes Winklevoss exchange’s customers $900mn", Financial Times