In an open letter, Cameron Winklevoss slammed DCG’s Barry Silbert for allegedly playing the victim card while owing $1.2 billion to Gemini’s 232,000 Earn customers. Crypto exchange Gemini founder and CEO Cameron Winklevoss is again threatening to sue Digital Currency Group and its CEO Barry Silbert over delays in the resolution of Genesis for its…
266 ViewsDigital Currency Group (DCG) plans to hand its equity stake in Genesis’ trading arm to Genesis Global, which will then be sold, pending court approval. A Genesis creditor has revealed the new proposed restructuring plan between Genesis, Digital Currency Group and creditors will see creditors getting back at least 80% of their funds. On Feb….
448 ViewsGenesis, a subsidiary of Barry Silbert’s Digital Currency Group, filed for Chapter 11 bankruptcy on Jan. 19. Its default could have big implications for the crypto industry. It looks as if the bear cycle is going to claim another high-profile crypto company. On Jan. 19, Digital Currency Group’s (DCG’s) lending subsidiary, Genesis, filed for Chapter 11…
219 ViewsCrypto lender Genesis Global has become the latest firm to throw in the towel following the collapse of FTX, filing for Chapter 11 bankruptcy protection in New York. Cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy in the Southern District of New York. The firm has estimated liabilities of $1 billion to $10 billion…
344 ViewsThe crypto market is down today after the U.S. government cracks down on Bitzlato and stocks begin to give back some of their gains from the start of the year. The crypto market is down today, as a slew of negative news events weigh on Bitcoin, Ether and altcoin prices. After jumping to yearly highs,…
273 ViewsDigital Currency Group’s ongoing financial distress isn’t likely to cause much further strain on crypto prices, according to Galaxy Digital Holdings CEO Mike Novogratz. Galaxy Digital Holdings CEO Mike Novogratz has hosed down fears over the crisis facing Digital Currency Group (DCG) and Genesis, saying while it’s “not good news,” it won’t “include a lot…
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