Cryptocurrency Firms Gemini, DCG, Genesis Sued in US for Alleged $1 Billion Fraud

Cryptocurrency Firms Gemini, DCG, Genesis Sued in US for Alleged $1 Billion Fraud

ByNews Polite

New York Attorney General Letitia James on Thursday sued cryptocurrency firms Genesis Global, its parent company Digital Currency Group (DCG) and Gemini for allegedly “defrauding” investors of more than $1 billion (roughly Rs. 8,317 crore).  The development underscores the challenges the crypto industry continues to face almost a year after…

Genesis, Huobi Resort to Staff Layoffs as Market Pressure Continues to Intensify: Reports

Genesis, Huobi Resort to Staff Layoffs as Market Pressure Continues to Intensify: Reports

ByNews Polite

Two crypto firms — Genesis and Huobi — have grabbed the attention of the crypto community, after reportedly decided to cut down on their respective work forces. Genesis is a crypto-lending platform whereas Huobi is a crypto exchange platform. The companies are evidently trying to cut the cost around their…

Genesis Warns Investors of Possible Bankruptcy Without Fresh Funding After FTX Collapse: Report

Genesis Warns Investors of Possible Bankruptcy Without Fresh Funding After FTX Collapse: Report

ByNews Polite

Digital asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and the firm has warned potential investors that it may need to file for bankruptcy if its efforts end up to no heed, according to a Bloomberg News report. The firm has faced a liquidity crunch…

eBay Debuts Sports-Themed NFT Collection on Polygon, Tezos-Based ‘OneOf’

eBay Debuts Sports-Themed NFT Collection on Polygon, Tezos-Based ‘OneOf’

ByNews Polite

US-based online e-commerce giant eBay has ventured into the world of non-fungible tokens (NFTs) with the release of its debut collection on the ‘OneOf’ NFT platform. This marks eBay’s first foray into the world of digital collectibles. Its first NFT collection is themed around sports and the price range of…