The DCG's $1.1 Billion Hole in Genesis' Balance Sheet

Gemini, founded by the Winkle Boss Twins, is another leading crypto exchange. Gemini had created an earned product that would have a yield to retail accounts and high net with investors. And the primary credit there was Genesis. The FTX on a live in fraud demise led to Genesis defaulting over the summer of last year. That created a $1.1 billion hole in the Genesis balance sheet. DCG has now entered into a 30-day mediation period with its subsidiary, Genesis,. as well as the creditors of Genesis.