Legal Battle Over $1.6B in GBTC Shares
Gemini is suing crypto lender Genesis to ascertain the rightful ownership of Grayscale Bitcoin Trust (GBTC) shares worth nearly $1.6 billion.
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Gemini is suing crypto lender Genesis to ascertain the rightful ownership of Grayscale Bitcoin Trust (GBTC) shares worth nearly $1.6 billion.
The lawsuit aims to ensure over 60 million GBTC shares, pledged as collateral for Gemini’s Earn product users, aren’t used to settle other Genesis debts.
This legal move follows Genesis's decision to sue its parent company DCG, impacting a debt repayment plan.
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