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A fire has broken out at an oil refinery in Russias Bashkortostan and firefighting is underway, with the production site suffering minor damage, the regional governor said.British retailer Sainsburys confirmed it is in discussions to sell its Argos subsidiary to JD.com (JD.O).The Cyberspace Administration of China is soliciting public opinions on the "Regulations on Promoting and Standardizing the Application of Electronic Documents (Draft for Comments)".On September 13th, Trump released a letter to all NATO nations and the world. He stated, "I am ready to impose significant sanctions on Russia when all NATO nations agree and begin taking the same actions, and all NATO nations stop buying Russian oil." As you know, NATOs commitment to "winning this war" is far from 100%, yet some countries are still buying Russian oil, which is truly shocking! This significantly weakens their negotiating position and leverage with Russia. This is not Trumps war (if I were president, this war would never have happened!), but Biden and Zelenskys war. My sole purpose is to help end this war and save tens of thousands of Russian and Ukrainian lives. If NATO does what I say, this war will end quickly, and all these lives will be saved!On September 13, Russian Permanent Representative to the United Nations Vasily Nebenzya revealed on the 12th that Poland acknowledged that a drone that recently entered Polish airspace may have originated from Ukrainian territory, stating that it was no secret that Ukraine "has been attempting to expand the geographical scope of the Russia-Ukraine conflict." This statement further complicates the Polish version of the Russian drones entry into Polish airspace. Several European and American experts, scholars, and politicians speculated that there may be a hidden story behind this incident.

Crypto broker Genesis owes Gemini’s customers $900 million

Skylar Shaw

Dec 05, 2022 15:25

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The Winklevoss brothers' cryptocurrency exchange Gemini clients are owed $900 million by cryptocurrency broker Genesis and its parent business Digital Currency Group (DCG), the Financial Times reported on Saturday.


According to the publication, which cited persons with knowledge of the situation, cryptocurrency exchange Gemini is attempting to recoup the assets after Genesis was caught off guard by Sam Bankman-FTX Fried's crypto group's bankruptcy last month.


Barry Silbert, the chief executive of venture capital firm Digital Currency Group, informed shareholders last month that Genesis Trading and cryptocurrency asset manager Grayscale owe $575 million to Genesis' crypto lending division.


In order to recover the monies from Genesis and its parent DCG, Gemini, which manages a crypto loan product in collaboration with Genesis, has now established a creditors' committee, according to the newspaper.


Separately, Coindesk reported on Sunday that creditor parties negotiating with Genesis presently account for loans totaling $1.8 billion, and that number is certain to rise.


The law firm Proskauer Rose is representing a second group of Genesis creditors, with loans totaling $900 million, according to CoinDesk, which cited a source.


Reuters contacted Genesis and Gemini for comment, but neither company responded right away.


According to three people familiar with the situation, the New York Times reported last month that Genesis had recruited investment firm Moelis & Company to investigate possibilities, including a potential bankruptcy.


The sudden demise of the cryptocurrency exchange FTX was cited as the reason Genesis Global Capital last month froze customer redemptions in its lending operation.


In the highest-profile crypto meltdown to date, cryptocurrency trading site FTX filed for bankruptcy protection in the US on November 11 after users withdrew billions from the platform in just three days and rival exchange Binance abandoned a rescue plan.


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