As FTX seeks clawbacks on political donations, Digital Currency Group and its bankrupt subsidiary, Genesis, have reached a restructuring agreement. Remember when Sam Bankman-Fried admitted to being a significant donor to the Democratic and Republican parties? Well, the recipients of the tainted money have been formally requested to return the funds to FTX’s creditors. So…
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Gemini Earn participants are among the many groups likely to be disappointed with the outcome of Genesis’ Chapter 11 bankruptcy filing. The holding company of troubled crypto lender Genesis Global Capital, Genesis Global Holdco LLC, filed for Chapter 11 bankruptcy protection in New York on Jan. 19. Genesis is the latest crypto platform to file…
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The troubled crypto firm Genesis has reached an agreement with key creditors that would involve a sale of the crypto lending and trading arm of the company…. Read More: Digital Currency Group Announces Major Shake-Up: Genesis Trading and Lending Arms to be Sold Read more »Sign up for e-EUR – the progressive stablecoin
Digital Currency Group (DCG) plans to hand Genesis its stake in the Genesis Global Trading business entity which will then be sold, pending court approval. Genesis Global has announced it has reached an “agreement in principle” with Digital Currency Group (DCG) which will eventually see its crypto lending and trading arm sold as part of…
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The seven-member committee will represent the creditors in court, having the right to participate in the reorganization plan. A seven-member committee has been appointed to represent the interests of unsecured creditors in Genesis Global bankruptcy case, according to court filings on Feb. 4. The committee will represent the creditors in court, having the right to…
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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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Cryptocurrency exchange Luno, which is owned by crypto conglomerate Digital Currency Group, has slashed 35% of its global workforce. The company, which has offices in Africa, Southeast Asia, and Europe, reportedly informed employees during a live-streamed town hall on Wednesday. “2022 has been an incredibly tough year for the broader tech industry and in particular the crypto…
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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: Genesis Creditors Sue DCG and Barry Silbert, Binance Kept Some Collateral in Same Wallet as Customer Funds, Binance Processed $346M for Bitzlato Read more »Sign up for e-EUR…
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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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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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