Over $3b in leveraged Bitcoin and Ethereum longs sit just above key support levels, with Coinglass data showing a liquidation cascade risk in either direction.
Summary
- Investors allege Gemini concealed a preplanned pivot to a Gemini 2.0 prediction-market model in its IPO filings.
- The suit follows a 77% stock plunge, mass layoffs, and withdrawals from key international markets after the IPO.
- Plaintiffs say these post-IPO shocks were foreseeable outcomes of a strategy Gemini chose not to disclose.
Leveraged long positions across Bitcoin (BTC) and Ethereum (ETH) are sitting on a knife’s edge, with more than $3 billion in combined exposure at risk of forced…
