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Gemini Trust Co., a crypto exchange, reportedly withdrew $282 million from Genesis Global Holdco LLC months before Genesis filed for bankruptcy. Genesis and Gemini used to work together on the Earn program. Under this initiative, Gemini allowed users to lend crypto via Genesis and earn returns. This partnership appeared mutually beneficial until Gemini withdrew millions from Genesis. You might also like: Gemini to invest $24m in India despite current tax regulation Anonymous sources disclose that Gemini withdrew approximately $282 million from Genesis to establish a financial reserve, ensuring swift access to funds for Gemini Earn users. Importantly, none of these funds went into the personal accounts of the Winklevoss twins, despite some speculations. Following the collapse of FTX, Genesis froze customer withdrawals and filed for Chapter 11 bankruptcy. In response, Gemini initiated a claim in bankruptcy court, advocating for a $1.1 billion settlement for Earn use...

A New Zealand-based crypto exchange Dasset has gone into liquidation. Clients are reportedly unable to reach their accounts. The company’s CEO, Stephen Macaskill, said Dasset applied for voluntary liquidation. However, new users can still register on the website. Advisory firm Grant Thornton was appointed as the liquidator for the company. Their press release reads: “We understand users and creditors will be disappointed by the news that Dasset has gone into liquidation. The process of securing the assets is complex; there are third parties involved and nearly 100 different types of digital assets. We will work with management and third parties to resolve any issues as soon as possible.” Dasset’s liquidator statement Grant Thorton also said that the company will contact all the exchange clients and suppliers in the upcoming days, and an initial report will be available on the company website next week. You might also like: New Zealand not quick to implement crypt...