Gemini Co-Founder Accuses DCG’s Silbert of ‘Bad Faith’ Stalling in $900M Locked Funds Dispute

CryptoX – Cryptocurrency Analysis and News Portal Gemini Trust Co., which is co-owned by Winklevoss and his twin brother, paused redemptions on an interest-earning product called Earn in mid-November, a week after rival crypto exchange FTX filed for bankruptcy. The product offered investors opportunities to yield as much as 8% interest on their crypto by lending those digital tokens out to Genesis. Source The post Gemini Co-Founder Accuses DCG’s Silbert of ‘Bad Faith’ Stalling in $900M Locked Funds Dispute appeared first on CryptoX. CryptoX Portal

Crypto lender Genesis allegedly owes $900M to Gemini’s clients: Report

Crypto lender Genesis and its parent company Digital Currency Group (DCG) allegedly owes $900 million to Gemini’s clients, according to a Financial Times report disclosed on Dec. 3 citing people familiar with the matter.  The issue derives from the FTX dramatic collapse in November. Crypto exchange Gemini operates a product called Gemini Earn in partnership with Genesis, offering investors the opportunity to earn 8% in interest by lending out their crypto, including Bitcoin and stablecoins pegged to fiat currencies. On Nov. 16, Genesis announced it had temporarily suspended withdrawals citing “unprecedented…

Katie Haun Seeks $900M for Crypto Funds After A16z Departure: Report

Katie Haun, soon to be former partner at Andreesen Horowtiz (a16z), is looking to raise $900 million for a pair of crypto investment funds following her departure from the venture capital firm, according to a report by the Financial Times. Haun is aiming for $300 million for an early investment fund targeting crypto startups and $600 million for a fund focused on larger companies and digital tokens, FT reported on Friday, citing people briefed on her plans. While much smaller than the $2.2 billion amount Haun helped a16z raise for…

MicroStrategy raising $600M…. no, $900M to buy more bitcoin

Following a Tuesday announcement that MicroStrategy would be planning to buy $600 million in Bitcoin through a sale of convertible notes, the business intelligence firm has upped the ante by another $300 million. MicroStrategy said today it would be selling $900 million in convertible senior notes due in 2027 in a private offering to qualified institutional buyers. According to the firm’s estimates, the proceeds of the sale will be roughly $879 million. It added, however, that it could be as high as $1 billion “if the initial purchasers exercise in…