Category: Gemini

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Today in Crypto: Bitcoin Mining Difficulty Hits New ATH, Gemini Reportedly Investigated by NYDFS, South Korea Plans to Create a Crypto Tracking System

January 30, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Bitcoin Mining Difficulty Hits New ATH, Gemini Reportedly Investigated by NYDFS, South Korea Plans to Create a Crypto Tracking System  Read more »Sign up for e-EUR – the…
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Matrixport Joins Growing List of Crypto and Blockchain Companies Letting Employees Go

January 28, 2023

The crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company’s staff, according to reports published on Friday. Matrixport’s COO, Cynthia Wu, cited a “shift in the regulatory climate” and “industry-wide capitulations” as reasons for the layoffs. Matrixport Lays Off 10% of Staff as Crypto Winter Continues Jihan…
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Cryptocurrency Exchange Gemini to Lay Off 10% of Workforce – Here’s What Happened

January 25, 2023

New York-based cryptocurrency exchange Gemini is letting go of 10% of its workforce amid the ongoing bear market that has seen around $2 trillion wiped out of the crypto market.  This marks the third round of layoffs at the crypto exchange in the past eight months, the Information reported on Monday, citing an internal message from Gemini…
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Genesis eyes fast resolution to creditor disputes and bankruptcy exit in May

January 24, 2023

A lawyer for Genesis is optimistic it can resolve creditor disputes before the week is out while the firm could exit bankruptcy proceedings in four months. A lawyer for bankrupt crypto lending firm Genesis is optimistic the firm can resolve its creditor disputes as early as this week and the company could come out of…
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Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit

January 20, 2023

Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations and facilitate the restructuring process.” Genesis’ Bankruptcy Filing Genesis Global Holdco LLC, a…
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Bybit CEO offers clarity on exposure to Genesis, but community demands more

January 20, 2023

The community questioned Bybit’s timing in revealing their exposure now and many demanded proof to back up the reassurance from the CEO. Genesis Global, a prominent crypto lender, filed for Chapter 11 bankruptcy protection in New York on Jan. 20, becoming the latest company to declare bankruptcy in the wake of FTX’s collapse. However, the…
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Genesis Files for Bankruptcy as it Seeks Protection From its Creditors – Which DCG Unit is Next to Fail?

January 20, 2023

After months of struggling, crypto lending and trading firm Genesis has filed for bankruptcy – but it’s not the end of its troubles. Genesis, a unit of the Digital Currency Group (DCG), said in a press release that Genesis Global Holdco, LLC and two of its lending business subsidiaries, Genesis Global Capital, LLC and Genesis…
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Would a Clear Out of Crypto Moguls and Their Centralized Companies Be Good for the Digital Asset Class?

January 18, 2023

As more and more crypto companies face scrutiny – and some throw in the towel after a rough bear market – questions are being raised whether that could be a good thing for crypto after all…. Read More: Would a Clear Out of Crypto Moguls and Their Centralized Companies Be Good for the Digital Asset…
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Osprey Vies for Control of Grayscale’s Bitcoin Trust; Tron’s Justin Sun Offers to Invest Up to $1B on DCG Assets

January 14, 2023

Following charges by the U.S. Securities and Exchange Commission against the crypto exchange Gemini and the digital currency lender Genesis, Tron founder Justin Sun told the press that he may be able to purchase assets from Genesis, up to $1 billion, “depending on their evaluation of the situation.” Additionally, the crypto investment manager Osprey has…
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Total crypto market cap closes in on $1T right as Bitcoin price moves toward $20K

January 14, 2023

Crypto traders chase after neutral-to-bullish options as Bitcoin price targets $20,000 and the total crypto market cap surges above $900 billion. The total cryptocurrency market capitalization reached its highest level in over two months on Jan. 13 after breaking above the $900 billion mark on Jan. 12. While the 15.5% year-to-date gain sounds promising, the…
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