Crypto exchange Gemini accuses Digital Currency Group (DCG) of failing to make a $630 million payment to subsidiary Genesis Global Capital. Gemini is in talks to prevent default and CEO Cameron Winklevoss plans to sue DCG over a $900 million loan.
Genesis filed for bankruptcy, facing allegations of commingled funds and loan repayment disputes. Both Gemini and DCG are accused of selling unregistered securities by the SEC.