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Genesis Sues Gemini to Recover ‘Preferential Transfers’ Worth $689M

In a lawsuit filed on Tuesday, Genesis alleges Gemini, a crypto exchange owned by the Winklevoss twins, made “significant withdrawals” before Genesis filed for bankruptcy, contributing to a “run on the bank.”This comes after Gemini sued Genesis owner Digital Currency Group (DCG) in July, claiming it engaged in fraud through the high-yield Earn program they partnered on. When not waging legal battles against each other, Gemini, Genesis, and DCG must deal with the lawsuit New York’s Attorney General filed against all three of them.

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