It appears that Gemini Trust Co., a U.S. cryptocurrency exchange, withdrew approximately $282 million worth of cryptocurrency from Genesis Global Hold, the cryptocurrency lending and trading subsidiary of Digital Currency Group (DCG), before Genesis filed for bankruptcy. The funds withdrawn from Genesis were used to create reserves for immediate repayment to Gemini customers. The bankruptcy proceedings of Genesis are ongoing, with DCG working on a restructuring agreement to repay a portion of unsecured creditors' debt, which could potentially result in the recovery of around 70-90% of the funds for Geminion users. This development highlights the challenges and complexities in the cryptocurrency lending and trading space.