2023-1-19 21:59 |
Another one bites the dust? A report suggested an initial bankruptcy filing from Genesis could come before February.
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Genesis Global gets court approval to repay $3 billion to customers. Judge Sean Lane overruled an objection from Genesis parent company Digital Currency Group. DCG argued payments to be in US value of assets as of bankruptcy filing in January 2023.
2024-5-20 12:58 | |
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The insolvent lender will now have until August 2 to submit a plan to emerge from bankruptcy.
2023-6-6 00:42 | |
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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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Cameron Winklevoss, a co-founder of the Gemini crypto exchange, treats Genesis’ bankruptcy as a good chance to recover his clients’ funds. Genesis participants to acquire back their assets Amid the crypto organizations’ fallout yesterday, Genesis filed for bankruptcy after a long…
2023-1-20 16:51 | |
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Bitcoin fell 2% to trade at the $20,700 level, while ether was trading down 3% to the $1,530 level. Equities closed down.
2023-1-19 01:06 | |
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Two sources familiar with the issues at Genesis allege that the company’s global creditors have agreed to negotiate a prepackaged bankruptcy plan.
2023-1-19 00:22 | |
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Genesis is reportedly laying the groundwork for a bankruptcy filing this week after failed creditor negotiations. The post New Report Reveals Genesis Could File For Bankruptcy This Week appeared first on BeInCrypto.
2023-1-19 23:47 | |
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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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Genesis Global Capital is navigating a precarious financial situation, with bankruptcy looming as the likely outcome if it does not secure the liquidity necessary to stay afloat
2023-1-19 23:02 | |
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Genesis has reportedly started to prepare for a bankruptcy filing, which could be done by the end of this week The crypto lender owes creditors over $3 billion Troubled crypto lending platfoThe post Breaking: Genesis is reportedly planning to file for bankruptcy soon appeared first on AMBCrypto.
2023-1-19 21:55 | |
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Genesis had previously halted customer withdrawals following FTX's epic collapse.
2023-1-19 21:54 | |
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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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A lot of ups and downs going on in the crypto industry have pushed some, if not most, companies to the edge of insolvency. Following its request for emergency bailout funding, popular crypto lender Genesis has slashed its staff members and is now considering a chapter 11 bankruptcy filing. This is not the first time […]
2023-1-6 12:15 | |
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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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Crypto lending platform Genesis, along with popular crypto market maker Wintermute and others, will form the FTX creditors committee. Genesis and other FTX victims form the bankruptcy committee A court filing released today showed that the Justice Department had added…
2022-12-16 02:26 | |
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Genesis, a US-based crypto lending platform, informed its customers that withdrawals might be halted for weeks while it develops a plan to avoid potential bankruptcy.
2022-12-8 12:34 | |
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Genesis is in talks with creditors and potential investors, Bloomberg News reports.
2022-11-30 06:31 | |
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Genesis is in talks with creditors and potential investors, Bloomberg News reports.
2022-11-30 06:31 | |
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It is understood Moelis & Company has been brought on to help the troubled lending firm explore all possible options.
2022-11-23 06:19 | |
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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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Separately, the CEO of Genesis' parent company disclosed that it had a roughly $575 million liability to Genesis.
2022-11-23 23:03 | |
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Crypto brokerage Genesis failed to raise funds and is potentially facing bankruptcy without additional funding, Bloomberg reported November 21. The post Genesis fails to raise funds as FTX contagion weighs on DCG-owned company appeared first on CryptoSlate.
2022-11-22 02:13 | |
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The troubled crypto investment bank is in talks with potential investors for at least $1 billion in fresh capital, according to a Bloomberg report.
2022-11-22 01:08 | |
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If Genesis is forced to file for bankruptcy, creditors will have no claim on GBTC assets, the report said.
2022-11-22 19:30 | |
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Crypto lender Genesis sought out an emergency loan of $1 billion from investors in the wake of FTX’s collapse and ensuing bankruptcy but never got the funds it requested, The Wall Street Journal reported November 17.
2022-11-18 23:49 | |
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The biggest news in the cryptoverse for November 16 includes Gemini halting withdrawals on its Earn program, Coinbase saying it has zero exposure to Genesis Trading, and Messari estimating that FTX investors may get back up to 50% of their funds after bankruptcy process.
2022-11-17 01:15 | |
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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.