Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was attempting to recover the funds by creating a creditors committee. 31 days after Gemini paused the Earn program’s withdrawals, Cameron Winklevoss tweeted that it has formed a committee with Houlihan Lokey acting as the financial advisor.
Gemini Hopes to ‘Provide a Path for the Recovery of Funds’ With Newly Created Creditors Committee and Houlihan Lokey Advisor
On Dec. 17, 2022, Gemini co-founder Cameron Winklevoss tweeted an update concerning the company’s Earn program. “Earn Update: Houlihan Lokey, the Financial Advisor of the Creditor Committee, has begun advocating for a plan to resolve the liquidity issues at Genesis and DCG and provide a path for the recovery of funds,” Winklevoss said.
The crypto exchange paused the Earn program on Nov. 16, 2022, and it cited the company’s lendi
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