Genesis sues Gemini Trust to recover $689 million in priority transfer assets

ChainCatcher news, according to CoinDesk, based on a court filing submitted Tuesday evening, cryptocurrency lending institution Genesis Global Capital has sued its former business partner, cryptocurrency exchange Gemini Trust, seeking to recover over $689 million.

The allegations state that Gemini prioritized the transfer of assets totaling no less than approximately $689,302,000 belonging to Genesis at the expense of other creditors, and is asking the court to rectify this unfair situation.