2023-5-11 00:15 |
The settlement plan proposed in February would give Genesis creditors 80% recovery of funds, but many raised demands, leading to the mediation.
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Digital Currency Group (DCG) provided an update on the status of its subsidiary, Genesis Capital, in a statement on May 9. DCG said that it remains “engaged with the various stakeholders” who are involved in a mediation process concerning Genesis’ restructuring process.
2023-5-10 00:49 | |
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Genesis will enter mediation with its creditors in order to maintain its proposed restructuring plan, Bloomberg said on April 28. According to Genesis’ lawyer, Sean O’Neal, Genesis will engage in a 30-day mediation process with its committee of unsecured creditors.
2023-4-29 00:25 | |
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The process can start once the parties agree on a mediator and submits an order to the U.S. bankruptcy court.
2023-4-28 17:01 | |
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Bullish acquires CoinDesk, planning substantial investment in its global expansion, and appoints the former Chief Editor from the Wall Street Journal as Editorial Committee Chair.
Crypto exchange Bullish has acquired CoinDesk, a crypto publication, from its financially troubled parent company, the Digital Currency Group. The post This Crypto Exchange Acquired Crypto Media Company CoinDesk: Report appeared first on BeInCrypto.
The Digital Currency Group has hired former Trump impeachment lawyer to defend itself against the New York Attorney General's (NYAG) $1.1 billion lawsuit. The post DCG Hires Trump Former Attorney to Fight NY Lawsuit appeared first on BeInCrypto.
Lawyers representing Gemini Trust filed a response in bankruptcy court to Digital Currency Group’s plan claiming to offer unsecured creditors a “70–90% recovery."
Estimates of staffers facing the axe range from 45% (20 people) to 16%. A companywide meeting is reportedly scheduled for Aug. 14.
New York Attorney General Letitia James has reportedly launched an investigation into Digital Currency Group (DCG), the parent company of Genesis, a cryptocurrency firm that has been facing financial troubles.
Gemini and its founders sued Digital Currency Group on Friday alleging that it incurred losses due to DCG's "false, misleading and incomplete representations" tied to DCG subsidiary Genesis' work with Gemini on the crypto company's Earn product.