Gemini today sued digital asset lender Genesis over who rightfully owns $1.6 billion in Grayscale Bitcoin Trust shares.
A Friday lawsuit filed in the U.S. Bankruptcy Court Southern District of New York shows that New York-based cryptocurrency exchange Gemini wants to regain control of the shares to pay back the clients of its Earn program.
Gemini and Genesis have been at war since last year because Genesis once served as a primary lending partner to the New York exchange for the Gemini Earn product. Gemini Earn allowed customers to get returns money on their crypto.