Bankrupt Genesis alleges Gemini contributed to ‘run on the bank’ with $689M withdrawals
Bankrupt crypto lender Genesis has filed legal actions to retrieve $689.3 million from cryptocurrency exchange Gemini. In a Nov. 21 court filing, the bankrupt lender alleged that Gemini contributed to the “run on the bank” it suffered by making these preferential transfers during a 90-day period that preceded its bankruptcy filing. According to the lender,...