Digital Currency Group and Genesis owe Gemini Exchange $900 million

time:2022-12-04 03:48 source:Internet

According to the Financial Times, parent company Digital Currency Group (DCG) along with Genesis owe $900 million to customers of cryptocurrency exchange Gemini.Genesis is one of the partners of the Earn program for the Gemini exchange.The Financial Times also reports that Genesis is continuing its efforts to raise funds. To do so, the firm has hired investment banking firm Moelis & Co.Amid rumors of bankruptcy, the company has reduced the amount of financing needed from $1 billion to $500 million.
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