Genesis Global Trading

2013-01-01

Genesis Global Trading, Inc. founded as the first institutional OTC Bitcoin trading desk; later becomes a subsidiary of Digital Currency Group.

2021-02-01

Gemini Earn program launches; Genesis and Gemini begin offering retail investors the ability to lend crypto to Genesis in exchange for interest payments.

2022-06-15

Genesis commences AAA arbitration against Three Arrows Capital (3AC), claiming breach of lending agreements; 3AC owed Genesis approximately $2.36 billion.

2022-07-06

Genesis publicly confirms exposure to Three Arrows Capital and receives equity support from parent DCG.

2022-07-18

Genesis files a $1.2 billion claim against Three Arrows Capital in bankruptcy proceedings. DCG issues a ten-year, $1.1 billion promissory note at 1% interest to address the balance-sheet gap.

2022-08-01

Michael Moro departs as CEO of Genesis Global Trading.

2022-11-16

Genesis Global Capital suspends all customer withdrawals and new loan originations, citing $175 million in locked FTX funds and loss of industry confidence following FTX's collapse.

2023-01-10

DCG CEO Barry Silbert issues a letter to shareholders acknowledging Genesis's liquidity difficulties.

2023-01-12

SEC charges Genesis Global Capital and Gemini Trust Company with the unregistered offer and sale of securities through the Gemini Earn program, alleging violations of the Securities Act of 1933.

2023-01-19

Genesis Global Holdco, Genesis Global Capital, and Genesis Asia Pacific file Chapter 11 bankruptcy petitions in the Southern District of New York (Case No. 23-10063), listing liabilities of $1.2–11 billion and over 100,000 creditors.

2023-08-29

DCG reaches an in-principle agreement with Genesis creditors, projecting recoveries of 70–90% in USD equivalent.

2023-10-19

New York Attorney General Letitia James files civil fraud lawsuit against Genesis, Gemini, DCG, Barry Silbert, and Michael Moro, alleging concealment of over $1 billion in losses from investors.

2024-02-09

New York Attorney General amends the Gemini Earn lawsuit to reflect approximately $3 billion in alleged total losses.

2024-03-01

Genesis agrees to pay a $21 million civil penalty to settle SEC charges related to the unregistered Gemini Earn securities offering.

2024-05-21

Bankruptcy court confirms Genesis's Chapter 11 restructuring plan, approving approximately $3 billion in repayments to creditors.

2024-05-20

New York Attorney General secures a $2 billion settlement with Genesis to establish a victims fund, with distributions to approximately 29,000 New York investors via the Gemini Earn program.

2024-06-14

Gemini settles with the New York Attorney General for $50 million and agrees to cooperate with ongoing litigation against DCG and Barry Silbert.

2024-08-02

Genesis restructuring plan becomes effective; Genesis begins distributing approximately $4 billion in digital assets and cash to creditors.

2025-04-11

New York state court denies most of DCG's motion to dismiss the NYAG's civil securities fraud suit; primary fraud claims against DCG and Barry Silbert proceed.

2025-05-19

Genesis Liquidating Operating Committee files two lawsuits against DCG, Barry Silbert, and affiliated insiders seeking approximately $3.3 billion, alleging fraudulent transfers and breach of fiduciary duty.