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Also Read: XRP Advocate Deaton Challenges SEC’s Ripple Verdict Appeal Igniting Legal Debate advertisement When Will Gemini XRP Trading Resume The Gemini XRP relisting is a welcome move for the crypto market, with the US market holding key to further expansion of the web 3.0 ecosystem. However, the exchange has been a little slow in catching up with its counterparts about the relisting. On July 21, 2023, CoinGape reported that the exchange dropped a hint on plans to relist the token on its platform. As of now, only the token deposits have been opened and trading would soon be activated, it said in a statement. “We are delighted to announce support for XRP Ledger ( XRP ), adding a new blockchain to Gemini’s growing list of supported networks. XRP is now available for deposits on Gemini. Trading for XRP will follow.” Overall, the Ripple lawsuit Summary Judgment that the token sales to retail investors are not securities opened a...

Gemini has filed a lawsuit against Digital Currency Group ( DCG ) and its chief Barry Silbert for alleged fraud . Gemini had partnered with DCG for its Gemini Earn program, which involved Gemini giving customer deposits to Genesis Global Capital, a DCG subsidiary, to be lent out in order to earn yield. Genesis Global Capital filed for bankruptcy earlier this year, several months after closing withdrawals amid the collapse of FTX and Alameda Research.  The lawsuit specifically alleges that Genesis misrepresented its risk management process by making huge loans to irresponsible counter parties, including Three Arrows Capital (3AC), motivated in part by those counter parties benefiting the Grayscale Bitcoin Trust (GBTC), another DCG subsidiary. The lawsuit details loans to 3AC totaling $2.3 billion and suggests that the collateral for this trade was valued at less than 50% of the loan total. A portion of this collateral was actually shares of GBTC. 3AC’s trading strategy during...