Gemini Earn Suspends Withdrawals: Legal Options?
On November 16, 2022, Gemini Earn paused all withdrawals from its platform, providing little public updates since. According to Gemini’s Website, the pause was due to a “liquidity issue duration mismatch between Genesis’ assets and its liabilities.” In plain English, this means that Genesis, Gemini’s lending partner, heavily borrowed against customer’s assets and is insolvent […]
FTX Makes First Substantive Bankruptcy Filing
After making its initial bankruptcy filing on November 11, 2022, the failed crypto platform FTX Trading LTD filed a motion before the United States Bankruptcy Court for the District of Delaware on November 14, 2022. The motion asks the Court to modify certain creditor list flings and to authorize FTX to serve process to certain […]