The Genesis-DCG loan led to a class-action arbitration case filed by Gemini clients

BlockBeats: CoinDesk reported on Jan. 3 that three Gemini Earn users have filed a class-action arbitration claim against Genesis Global Capital and Digital Currency Group, In response to Gemini suspending its Gemini Earn product program due to a freeze on withdrawals from Genesis. The claimants allege that Genesis failed to return Gemini Earn users' digital assets as required by the master agreement between the company and the users. In addition, the suit alleges that Genesis first breached the master agreement in the summer of 2022 while concealing its insolvency from customers; Genesis also entered into a sham transaction with its parent company, DCG, to cover up the bankruptcy.