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DCG Drama Recap: Winklevoss Letter, Grayscale Troubles, Class-Action Arbitration

Barry Silberts woes continue as Cameron Winklevoss ratchets up the pressure, Gemini Earn customers file for class-action arbitration, and Grayscales Ethereum Trust trades at its lowest discount ever. New Year,...

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Gemini’s Cameron Winklevoss Insists Digital Currency Group Needs to Resolve Liquidity Issues in Open Letter to CEO Barry Silbert

Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47…

Continue ReadingGemini’s Cameron Winklevoss Insists Digital Currency Group Needs to Resolve Liquidity Issues in Open Letter to CEO Barry Silbert

Valkyrie Reveals Intention to Sponsor Grayscale’s Bitcoin Trust as GBTC Discount to NAV Widens

Valkyrie Investments, a Tennessee-based asset manager, has announced its intention to become the new sponsor of Grayscale’s Bitcoin Trust (GBTC). The company states that it is “uniquely qualified” for the…

Continue ReadingValkyrie Reveals Intention to Sponsor Grayscale’s Bitcoin Trust as GBTC Discount to NAV Widens

Gemini Forms Creditors Committee With Houlihan Lokey to Resolve Genesis Liquidity Issues

Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was…

Continue ReadingGemini Forms Creditors Committee With Houlihan Lokey to Resolve Genesis Liquidity Issues

Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month

While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop…

Continue ReadingStablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month

Troubled Crypto Firm Genesis Owes Gemini’s Customers $900 Million (Report)

The cryptocurrency brokerage platform – Genesis – and its parent company Digital Currency Group (DCG), reportedly owe customers of Gemini approximately $900 million.  Genesis has been coping with severe issues…

Continue ReadingTroubled Crypto Firm Genesis Owes Gemini’s Customers $900 Million (Report)