After Gemini co-founder Cameron Winklevoss published an open letter to Digital Currency Group (DCG) CEO and founder Barry Silbert, threatening legal action if the firm failed to respond by July 7, Winklevoss announced on Friday that his company had filed a lawsuit against DCG and Silbert in New York. **Editor’s Note: This article was updated…
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Gemini co-founder Cameron Winklevoss alleged Barry Silbert committed fraud by knowing Genesis was “massively insolvent” when attempting to continue the Earn program. United States-based cryptocurrency exchange Gemini has announced legal action against the conglomerate Digital Currency Group (DCG) and its CEO Barry Silbert, claiming “fraud against creditors”. In a July 7 filing in a New…
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According to Cameron Winklevoss, the co-founder of the crypto exchange Gemini, a lawsuit will be filed on July 7 against Barry Silbert and the Digital Currency Group if the latter two fail to accept creditors’ “best and final offer.” Winklevoss also vowed to work with the Genesis Special Committee “to advance a non-consensual plan that…
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Genesis CEO Barry Silbert should have come clean after FTX imploded. Instead, he’s still deflecting responsibility for his company’s bankruptcy. Just two months after the collapse of FTX, Genesis is following suit. Against an increasingly disheartening backdrop of “Big Cryptos” going bust, Barry Silbert’s cryptocurrency lender, Genesis Global Holdco, is the latest firm to file…
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Amid Genesis going through its first bankruptcy hearings, a group of creditors have slapped the firm with a new class action lawsuit. Troubled cryptocurrency company Digital Currency Group (DCG) is facing more legal issues as its subsidiary Genesis Capital got slapped with a new class action lawsuit. A group of Genesis creditors filed a securities…
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Genesis, a subsidiary of Barry Silbert’s Digital Currency Group, filed for Chapter 11 bankruptcy on Jan. 19. Its default could have big implications for the crypto industry. It looks as if the bear cycle is going to claim another high-profile crypto company. On Jan. 19, Digital Currency Group’s (DCG’s) lending subsidiary, Genesis, filed for Chapter…
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A special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection. In a Jan. 20 statement, Genesis Capital’s parent company, Digital Currency Group (DCG), denied involvement in Genesis’ bankruptcy filing. According to DCG, a special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection. Filing for Chapter…
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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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According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis Global Capital, with operating an “unregistered offer and sale of securities to retail…
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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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