Genesis Global has filed a lawsuit to recover about $689.3 million worth of digital assets that a former business partner withdrew from the cryptocurrency lender before it filed for chapter 11 bankruptcy protection.
The lawsuit said Gemini Trust withdrew the assets on behalf of customers in the crypto exchange's Earn investment program between mid-October and mid-November 2022, at the "nadir" of the crypto market's turmoil and in a 90-day window before Genesis's bankruptcy filing.
The lawsuit marks Genesis Global's attempt to recover the substantial amount of digital assets that were taken out by its former partner.
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