Genesis lenders call DCG agreement ‘wholly insufficient’
The agreement in-principle reached by DCG and creditors also said that the Ad Hoc Group and Gemini did not support the deal.
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DCG and Genesis Forge Agreement for Up to 90% Recoveries for Creditors: Report
Genesis Global Holdco’s parent company, Digital Currency Group (DCG), has reached an in-principle deal with the creditors to resolve the claims of the bankrupt crypto lender. According to the court…
FTX Ropes in Mike Novogratz, Galaxy Digital to Manage it Crypto Holdings
FTX intends to initiate the sale, staking, and hedging of its crypto assets. For this purpose, the bankrupt crypto exchange is seeking to rope in Mike Novogratz and Galaxy Digital…
Bankrupt Crypto Entities Genesis and FTX Reach Agreement on $175 Million Claim
FTX’s sister trading firm, Alameda Research, will be allowed a general unsecured claim of $175 million against Genesis. The disgraced crypto exchange led by Sam Bankman-Fried previously sought to claw…
CoinDesk to lay off part of editorial staff in preparation for sale of stake: Report
Estimates of staffers facing the axe range from 45% (20 people) to 16%. A company-wide meeting is reportedly scheduled for Aug. 14.
Digital Currency Group files motion to dismiss Gemini lawsuit, claiming it’s a PR campaign
Gemini’s complaint filed in July alleged DCG and Barry Silbert had made “false, misleading, and incomplete representations and omissions” related to Genesis and the Earn program.
New York AG probes transactions at Genesis, ties with Barry Silbert: Report
Digital Currency Group (DCG) is reportedly under investigation in New York for financial transactions involving its subsidiary, Genesis Global Capital.
FTX and Genesis Finally Reach in Principle Agreement: Report
FTX and Genesis have come to an agreement in principle to settle claims made by both parties in their ongoing legal brawl. Both bankrupt firms had previously claimed that the…
Crypto Biz: Winklevoss slams Silbert, Twitter’s double-edged sword and more
This week’s Crypto Biz also explores Gemini’s fight with the Digital Currency Group (DCG) over user funds, new banking tools for the digital yuan, and OpenAI’s efforts to stop users…
Gemini files lawsuit against Digital Currency Group and Barry Silbert over Genesis and Earn program
Gemini co-founder Cameron Winklevoss alleged Barry Silbert committed fraud by knowing Genesis was “massively insolvent” when attempting to continue the Earn program.