Genesis
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AutoLayer announce the launch of the Genesis NFT Campaign on Galxe.
The #Genesis campaign is now live on Galxe. Participants can earn points by engaging on social media and depositing USD to claim one of the 800 exclusive Genesis NFTs.
#AutoLayer is a leading finance application for liquid restaking tokens on the #Arbitrum interface within the #EigenLayer ecosystem. AutoLayer allows users to develop optimal LRT utilization strategies, earning nearly infinite layers of yield and maximizing EigenLayer.
👉app.galxe.com/quest/8GU5gwvmjpucGqo2aLjcum/GCWu7thFm3
The #Genesis campaign is now live on Galxe. Participants can earn points by engaging on social media and depositing USD to claim one of the 800 exclusive Genesis NFTs.
#AutoLayer is a leading finance application for liquid restaking tokens on the #Arbitrum interface within the #EigenLayer ecosystem. AutoLayer allows users to develop optimal LRT utilization strategies, earning nearly infinite layers of yield and maximizing EigenLayer.
👉app.galxe.com/quest/8GU5gwvmjpucGqo2aLjcum/GCWu7thFm3
#GenesisVsGemini
The Bankruptcy Court approved a settlement for #gemini and #Genesis to distribute 97% of owed digital assets by early June, with further payments dependent on additional recoveries.
Fore more details click on below
https://www.gemini.com/earn
#write2earn🌐💹
#FollowForMoreInsights
The Bankruptcy Court approved a settlement for #gemini and #Genesis to distribute 97% of owed digital assets by early June, with further payments dependent on additional recoveries.
Fore more details click on below
https://www.gemini.com/earn
#write2earn🌐💹
#FollowForMoreInsights
📢#Genesis owes over $3.5B to top 50 creditors.
Crypto exchange Gemini, trading giant Cumberland, Mirana, MoonAlpha Finance and VanEck’s New Finance Income Fund are among the fifty largest Genesis creditors, according to a bankruptcy filing.
#crypto2023
Source: #Coindesk
Crypto exchange Gemini, trading giant Cumberland, Mirana, MoonAlpha Finance and VanEck’s New Finance Income Fund are among the fifty largest Genesis creditors, according to a bankruptcy filing.
#crypto2023
Source: #Coindesk
#Genesis Digital Assets launches three new bitcoin mining data centers in South #Carolina
#Bitcoin mining company Genesis Digital Assets, also known as GDA, has added three new data centers for bitcoin mining in western South Carolina.
The move is part of a broader data center expansion across the United States, as the nation now contributes 2% of the Bitcoin network total hash rate. #GDA also intends to use South Carolina's renewable energy to power its new data centers. One facility near Anderson will use dry-type distribution transformers and have a total capacity of 18 MW. Another near Pacolet will be run on hydroelectric energy.
"The opening of these new data centers is perfectly in line with our commitment to expand our fleet on clean energy resources," said GDA CEO Andrey Kim in a statement.
#Bitcoin mining company Genesis Digital Assets, also known as GDA, has added three new data centers for bitcoin mining in western South Carolina.
The move is part of a broader data center expansion across the United States, as the nation now contributes 2% of the Bitcoin network total hash rate. #GDA also intends to use South Carolina's renewable energy to power its new data centers. One facility near Anderson will use dry-type distribution transformers and have a total capacity of 18 MW. Another near Pacolet will be run on hydroelectric energy.
"The opening of these new data centers is perfectly in line with our commitment to expand our fleet on clean energy resources," said GDA CEO Andrey Kim in a statement.
In the monthly AMA by #StepN staff, that's currently being held, the co-founder clarified about the #GasHero and its recently released #Genesis hero-competition, where the community designs the heroes by submissions:
– Any style is good; pixelated or made by AI, whatever.
– It's preferably a full body artwork, including back and side-views.
– A name for the hero, including back-story is important.
– Goes without saying, that a creator must own all rights to the artwork that's submitted.
– No limit with the number of submission.
GasHero will be a PvP-style of Web3 game with complex mechanics, where its utility token $GMT will be earned from other players, unlike StepN that's meant to be the Web3-on-boarding game.
– Any style is good; pixelated or made by AI, whatever.
– It's preferably a full body artwork, including back and side-views.
– A name for the hero, including back-story is important.
– Goes without saying, that a creator must own all rights to the artwork that's submitted.
– No limit with the number of submission.
GasHero will be a PvP-style of Web3 game with complex mechanics, where its utility token $GMT will be earned from other players, unlike StepN that's meant to be the Web3-on-boarding game.
Winklevoss twins exchange is seeking the dismissal of a lawsuit filed by the Securities and Exchange Commission (SEC) that accuses them of illegally selling unregistered securities.
#Gemini #Genesis #crypto #crypto2023
#Gemini #Genesis #crypto #crypto2023
Офис генерального прокурора Нью-Йорка предъявил обвинения Gemini Trust, Genesis Global и DCG в обмане 230 000 инвесторов на сумму более $1 млрд.
Иск также содержит обвинения против бывшего генерального директора Genesis и основателя DCG Барри Силберта в попытке скрыть финансовое состояние компании.
#Gemini #DCG #Genesis
Иск также содержит обвинения против бывшего генерального директора Genesis и основателя DCG Барри Силберта в попытке скрыть финансовое состояние компании.
#Gemini #DCG #Genesis
Genesis Sues Digital Currency Group Over Unpaid Bitcoin Loans
CryptosHeadlines.com - The Leading Crypto Research Network
Digital Currency Group, the owner of the now-bankrupt crypto lender Genesis, faced criticism on Wednesday for allegedly borrowing a substantial amount of bitcoin and failing to repay it.
Genesis Global Capital is taking legal action against Digital Currency Group (DCG) for several unpaid loans totaling hundreds of millions of dollars that were due in May.
Genesis and DCG had entered into a “master loan agreement” in 2019, according to Genesis’ lawyers, as revealed in a filing with the U.S. Bankruptcy Court in the Southern District of New York. The documents state that Genesis loaned over 18,000 bitcoin to DCG in 2022, and later that year, the debt was converted into a fixed-term loan with a maturity date of May 11.
However, the loan matured on May 11, 2023, and remained unpaid, as per the filing.
In a separate court filing on Wednesday, attorneys representing Genesis disclosed that the crypto lender and DCG had entered into an “amended and restated master loan agreement” in November 2022.
A spokesperson for DCG mentioned in an emailed statement that Genesis had agreed to suspend the turnover action to facilitate the documentation of a preliminary agreement reached with Genesis, the UCC (Unsecured Creditors Committee), and DCG. The spokesperson further stated that they are currently in the process of documenting a forbearance agreement, which will be filed with the court soon. Once this is done, the distribution of funds will commence, and the path toward significant recovery for Genesis creditors will continue.
Genesis and DCG Face Legal Battle Over Unpaid Bitcoin Loans
Genesis Global Holdco faced significant financial challenges after the collapses of the crypto hedge fund Three Arrows Capital and the FTX exchange last year. As a result, it filed for bankruptcy protection in January, owing substantial debts to its creditors.
Following this, DCG and Genesis Global became embroiled in a legal dispute with the Gemini exchange. Gemini sued DCG and its CEO Barry Silbert in July, alleging that Silbert was responsible for orchestrating a fraudulent scheme against creditors on behalf of DCG and Genesis.
In July, Gemini co-founder Cameron Winklevoss issued an ultimatum to Silbert, demanding the immediate payment of $640 million owed to Gemini’s Earn clients or the threat of a lawsuit.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Blockchain #Bitcoin #CryptoNews #cryptomarket #Genesis
Digital Currency Group, the owner of the now-bankrupt crypto lender Genesis, faced criticism on Wednesday for allegedly borrowing a substantial amount of bitcoin and failing to repay it.
Genesis Global Capital is taking legal action against Digital Currency Group (DCG) for several unpaid loans totaling hundreds of millions of dollars that were due in May.
Genesis and DCG had entered into a “master loan agreement” in 2019, according to Genesis’ lawyers, as revealed in a filing with the U.S. Bankruptcy Court in the Southern District of New York. The documents state that Genesis loaned over 18,000 bitcoin to DCG in 2022, and later that year, the debt was converted into a fixed-term loan with a maturity date of May 11.
However, the loan matured on May 11, 2023, and remained unpaid, as per the filing.
In a separate court filing on Wednesday, attorneys representing Genesis disclosed that the crypto lender and DCG had entered into an “amended and restated master loan agreement” in November 2022.
A spokesperson for DCG mentioned in an emailed statement that Genesis had agreed to suspend the turnover action to facilitate the documentation of a preliminary agreement reached with Genesis, the UCC (Unsecured Creditors Committee), and DCG. The spokesperson further stated that they are currently in the process of documenting a forbearance agreement, which will be filed with the court soon. Once this is done, the distribution of funds will commence, and the path toward significant recovery for Genesis creditors will continue.
Genesis and DCG Face Legal Battle Over Unpaid Bitcoin Loans
Genesis Global Holdco faced significant financial challenges after the collapses of the crypto hedge fund Three Arrows Capital and the FTX exchange last year. As a result, it filed for bankruptcy protection in January, owing substantial debts to its creditors.
Following this, DCG and Genesis Global became embroiled in a legal dispute with the Gemini exchange. Gemini sued DCG and its CEO Barry Silbert in July, alleging that Silbert was responsible for orchestrating a fraudulent scheme against creditors on behalf of DCG and Genesis.
In July, Gemini co-founder Cameron Winklevoss issued an ultimatum to Silbert, demanding the immediate payment of $640 million owed to Gemini’s Earn clients or the threat of a lawsuit.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Blockchain #Bitcoin #CryptoNews #cryptomarket #Genesis
New York State Attorney General Letitia James is suing #cryptocurrency firms #Gemini , #Genesis , and Digital Currency Group (DCG) for alleged fraud. The lawsuit centers on Gemini's Earn program, which was marketed as a low-risk investment opportunity but was found to be risky in an investigation. Genesis is accused of lying about its finances and failing to audit borrowers, causing significant losses. The collapse of Gemini Earn led to approximately $1 billion in losses for consumers, affecting over 230,000 investors. The attorney general is seeking to recover lost funds and ban the companies from operating in New York's financial investment industry. This legal action adds to a series of lawsuits against major players in the cryptocurrency industry.
Developments in the coming days It could double the volatility in cryptocurrencies.
Early approval/rejection related to the BlackRock application
The involvement of the US Department of Justice in the #Binance case
Before the deadline of August 2, #Genesis announces that it has reached an agreement or officially announces that it is bankrupt
Developments related to the ongoing ETF litigation between Grayscale and the #SEC . Dec. BlackRock approval is difficult to come by while the case is ongoing, perhaps Grayscale will ease the SEC's hand for approval by passing the case. Or the SEC goes to settle the case, and the GBTC and BlackRock approvals come one after the other.
On the macro front, the upcoming data, this week's Powell+member statements have an overly hawkish tone
The rise of Russia, Taiwan and other military tensions
Early approval/rejection related to the BlackRock application
The involvement of the US Department of Justice in the #Binance case
Before the deadline of August 2, #Genesis announces that it has reached an agreement or officially announces that it is bankrupt
Developments related to the ongoing ETF litigation between Grayscale and the #SEC . Dec. BlackRock approval is difficult to come by while the case is ongoing, perhaps Grayscale will ease the SEC's hand for approval by passing the case. Or the SEC goes to settle the case, and the GBTC and BlackRock approvals come one after the other.
On the macro front, the upcoming data, this week's Powell+member statements have an overly hawkish tone
The rise of Russia, Taiwan and other military tensions
