.Gemini says DCGco has missed a $630 million payment, thesamreynolds reports
Gemini CEO Cameron Winklevossover the repayment of a $900 million loan after Genesis, a DCG entity, filed for Chapter 11 bankruptcy, amid allegations of mixed funds and ongoing disputes about loan repayments. The U.S. Securities and Exchange Commission has accused both firms of selling unregistered securities through their Earn program.
If the court approves this, they will have until August 27 to file a plan and until Oct. 26 for Gemini to accept it. According to a January court filing, Genesis owes over $3.5 billion to its top 50 creditors including Gemini, Cumberland, Mirana, MoonAlpha Finance and VanEck’s New Finance Income Fund.
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