2023-8-30 18:54 |
DCG's has reached a settlement with Genesis as they agree to reimburse creditors 70-90% as they seek tp address bankruptcy complexities and setting new recovery standards. origin »
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Genesis Global Holdco, the parent company of cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection on January 20. The move came after Genesis Global Capital halted customer repayments on November 16, raising concerns about the potential failure of other firms.
2023-8-1 03:00 | |
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Digital Currency Group comments on the restructuring in an investor letter.
2023-8-1 20:27 | |
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The Grayscale Bitcoin Trust (GBTC) has been on an uncertain journey over the last year as crypto headwinds have fluctuated. This was a result of the uncertainty triggered by the Genesis Trading bankruptcy, a company under the same Digital Currency Group (DCG) umbrella, of which the GBTC is a part. However, the trust has done […]
2023-7-12 02:30 | |
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The Digital Currency Group (DCG), a leading crypto conglomerate and parent company of Genesis lending division, finds itself entangled in the bankruptcy proceedings between Gemini and Genesis. The last few...
2023-5-23 01:00 | |
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Bankrupt crypto lender Genesis has filed a motion to extend the exclusivity period for its reorganization plan by 100 days. Why Genesis sought an extension In a May 19 court filing to the United States Bankruptcy Court for the Southern District of New York, the bankrupt lender, said it needed the extension “to achieve a […] The post Genesis seeks 100-day extension for recovery plan as DCG misses $630M payment appeared first on CryptoSlate.
2023-5-22 14:45 | |
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A recent FTX clawback demand has placed additional pressure on Genesis bankruptcy lawyers as other companies await a compensation plan . The post Genesis Lawyers to Answer $3.9 Billion FTX Clawback Amid DCG Default appeared first on BeInCrypto.
2023-5-8 15:30 | |
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Under the initial settlement plan, Genesis creditors were expected to receive 80% recovery of funds lost due to the bankruptcy.
2023-4-25 16:57 | |
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A group of unnamed Genesis Capital creditors have raised new demands and walked away from their previous agreement with the bankrupt crypto firm. Genesis Capital wants the court to appoint a mediator In an April 24 court filing, the bankrupt crypto lender applied for appointing a sitting bankruptcy judge in the Southern District of New […] The post Multiple Genesis Capital creditors walk away from agreement – DCG responds appeared first on CryptoSlate.
2023-4-25 15:17 | |
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Parent company Digital Currency Group would turn its equity in Genesis Global Trading over to a holding company as part of an effort to sell both firms.
2023-2-11 01:22 | |
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Key Takeaways DCG own the Grayscale Bitcoin Trust, which has been trading at a sizeable discount following concern around the reserves held DCG has begun selling off crypto assets at distressed prices following bankruptcy of Genesis Market seems to have priced this in, but there could be more twists to come A couple of weeks […] The post Barry Silbert’s DCG selling off assets at distressed prices, but market doesn’t care appeared first on CoinJournal.
2023-2-7 16:30 | |
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Digital Currency Group (DCG) appears to have avoided possible bankruptcy as its sister firms, and Genesis subsidiaries, have reached an agreement with creditors to avoid going under. The post DCG Fights Back as Genesis Rises From Possbile Bankruptcy appeared first on BeInCrypto.
2023-2-7 21:53 | |
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Per a report from CoinDesk, crypto lending firm Genesis and its parent company Digital Currency Group (DCG) are moving forward with the former’s bankruptcy process. The companies reached a “principle agreement” to restructure the lending firm.
2023-2-7 21:32 | |
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US-based cryptocurrency exchange Gemini – founded by twin brothers Cameron Winklevoss and Tyler Winklevoss – is embroiled in a fresh tussle with Genesis Capital’s parent company DCG after the crypto lender (Genesis) filed for bankruptcy protection.
2023-1-30 22:18 | |
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The insolvency of Genesis Trading and the related uncertainty about the future of Digital Currency Group (DCG) and Grayscale have not really dampened the mood on the Bitcoin market in recent weeks. Genesis’ bankruptcy filing, which was announced last Thursday, seems to have already been priced in by investors.
2023-1-24 13:40 | |
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The crypto industry has received a significant blow as Genesis, a prominent cryptocurrency lender, filed for bankruptcy. The SEC charges Genesis for illegal crypto sales. Genesis is a part of the DCG conglomerate of 200+ crypto-focused businesses.
2023-1-23 23:15 | |
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Digital Currency Group, the parent company of both Genesis and Grayscale, released a statement on January 20 commenting on the news that Genesis had filed for Chapter 11 bankruptcy. The post DCG responds to Genesis bankruptcy; Bitcoin jumps 4% as contagion fears lessen appeared first on CryptoSlate.
2023-1-21 23:58 | |
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Coinspeaker Cameron Winklevoss Threatens Lawsuit after Genesis Filed for Bankruptcy Winklevoss said this move will afford the firm to recoup its funds as the Barry Silbert-led DCG has continued to refuse to offer its creditors a fair deal.
2023-1-21 14:34 | |
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The Gemini CEO has been involved in a weeks-long public spat with DCG over the repayment of a $900 million loan.
2023-1-21 09:43 | |
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The Gemini CEO has been involved in a weeks-long public spat with DCG over the repayment of a $900 million loan.
2023-1-20 09:43 | |
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Genesis Global Capital, a crypto lending platform owned by Digital Currency Group (DCG), is said to be considering filing for bankruptcy. According to a Bloomberg report, Genesis is likely to file for bankruptcy this week.
2023-1-19 23:31 | |
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From Sam Bankman-Fried's claims of innocence, crypto rebounce, FTX bankruptcy proceedings, Nexo raids, Coinbase layoffs, Gemini and DCG drama, the past week was activity-stuffed.
2023-1-16 19:23 | |
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Cameron accused Silbert of misrepresenting statements to Gemini on how the company was capitalized DCG’s responsibility for Genesis restructuring and bankruptcy based on non-callable $1.
2023-1-11 08:43 | |
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The DCG and Genesis debacle continue to wax strong and Grayscale Bitcoin Trust has taken some of the heat from this. The majority of the concerns have been raised around the ability of Digital Currency Group to be able to repay its debt to Genesis, which owes creditors a significant amount of money. Now, co-founder […]
2023-1-4 20:00 | |
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The new Chelsea FC CEO Todd Boehly will acquire $350 million if the crypto lender Genesis declares bankruptcy. Digital Currency Group will be liable for such an outstanding loan. DCG tries to raise funds to support Genesis Digital Currency Group…
2022-12-22 22:09 | |
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Genesis has hired global investment bank - Moelis & Company to explore all possible options including bankruptcy DCG's CEO Barry Silbert revealed that the parent company owes Genesis $575 mThe post Genesis onboards financial advisors as it explores 'all possible options' appeared first on AMBCrypto.
2022-11-23 00:30 | |
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Prominent economist keeps bashing crypto space, saying that Barry Silbert’s DCG may go bankrupt and push prices lower
2022-11-19 13:27 | |
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Crypto lender Genesis Global Capital has filed two lawsuits against its parent company, Digital Currency Group, and CEO Barry Silbert, seeking to recover over $1 billion in allegedly improper transfers made while Genesis was insolvent. According to a May 20…
The largest recipient of the Genesis Trading bankruptcy proceedings has recently been involved in a significant Ethereum sell-off. According to data provided by Arkham Intelligence, the creditor has sold 12,100 Ethereum (ETH) worth $31.43 million, within just three days. This…
Genesis Global and affiliated entities have begun disbursing $4 billion in creditor payouts following the completion of their restructuring process. According to an Aug. 2 statement, crypto lender Genesis Global started repayments to over 100,000 creditors after declaring bankruptcy in…
Genesis Trading has moved billions of dollars in recent days, potentially to manage creditor repayments as part of its financial restructuring efforts. The crypto lender, which is navigating bankruptcy, has reportedly transferred substantial amounts of Bitcoin (BTC) and Ethereum (ETH)…
A wallet linked to crypto lender Genesis has transferred 12,600 Bitcoin (BTC) worth approximately $760 million to crypto exchange Coinbase. On-chain data tracked by Arkham shows the addressed labeled “Genesis Trading” moved the funds to the exchange amid the broader…
Crypto exchange Gemini said users of its now-defunct Earn product received $2. 18 billion of their digital assets, according to a May 29 statement. These distributions amount to 97% of the total digital assets owed to Earn users, marking a significant recovery since the collapse of crypto lender Genesis, which halted withdrawals in November 2022.
The case of clients’ money from Gemini’s Earn program, frozen for a year and a half, is finally moving toward a resolution. On May 17, Judge Sean H. Lane approved Genesis’ Chapter 11 bankruptcy plan. The decision will allow the…