DCG's subsidiary underwent a second round of job cuts after being hit by FTX implosion.
DCG’s subsidiary underwent a second round of job cuts after being hit by FTX implosion.
As a result of the financial distress, Genesis was forced to pause new loan originations and redemptions – a move that directly affected the Gemini Earn program. This subsequently escalated the battle with the co-founder of the crypto exchange, Cameron Winklevoss, who accused DCG of misrepresentation and accounting fraud andIt was earlier reported that Genesis owes users of Winklevoss’ high-yield savings product Gemini Earn $900 million.
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