2023-11-22 11:42 |
Genesis says the Winklevoss-founded crypto exchange benefited at the expense of Genesis’ creditors when it withdrew the money at the beginning of the crypto winter. Genesis Global Capital, a crypto brokerage firm owned by Digital Currency Group (DCG), is seeking… origin »
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The crypto industry has received a significant blow as Genesis, a prominent cryptocurrency lender, filed for bankruptcy. The SEC charges Genesis for illegal crypto sales. Genesis is a part of the DCG conglomerate of 200+ crypto-focused businesses.
2023-1-23 23:15 | |
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The collapse of FTX was the final straw for Genesis, which earlier this year suffered losses of several hundred million dollars due to its exposure to failed crypto hedge fund Three Arrows Capital.
2023-1-20 11:07 | |
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The collapse of FTX was the final straw for Genesis, which earlier this year suffered losses of several hundred million dollars due to its exposure to failed crypto hedge fund Three Arrows Capital.
2023-1-20 07:32 | |
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Bitcoin was hovering near $21,100 Thursday in afternoon trading. Genesis’ looming bankruptcy filing and the crypto industry’s other recent travails should be priced in, one analyst said.
2023-1-20 00:52 | |
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The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 19, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
2023-1-20 16:46 | |
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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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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 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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"In response to the current market environment, DCG has been focused on strengthening our balance sheet by reducing operating expenses and preserving liquidity," it told shareholders in a letter Tuesday.
2023-1-18 02:30 | |
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Digital Currency Group (DCG), the parent firm of struggling cryptocurrency lender Genesis, is liquidating some of its holdings. Tron founder and Chinese crypto entrepreneur Justin Sun is prepared to invest $1 billion to acquire the network.
2023-1-15 17:05 | |
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Howard Fischer says that the government agency’s probe into the crypto firms could be the precedent the agency needs as it looks to “stake out” its turf as the main regulator of the digital asset space.
2023-1-14 21:36 | |
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The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 13, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
2023-1-14 16:15 | |
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SEC has charged Genesis and Gemini of illegally marketing securities to investors. In a complaint filed on Jan. 12, SEC claims that Gemini Earn, a crypto lending program, is unlawful. Genesis, a unit of the Digital Currency Group, agreed to…
2023-1-13 12:47 | |
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The U. S. Securities and Exchange Commission has filed charges against crypto lender Gemini and Genesis for selling unregistered securities through Gemini’s “Earn” scheme. The SEC claims that Earn enabled Genesis and Gemini to obtain billions of dollars from hundreds of thousands of investors through these unregistered offers.
2023-1-13 08:59 | |
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The charges relate to Gemini’s crypto asset lending program, Gemini Earn, according to the Securities and Exchange Commission.
2023-1-13 01:16 | |
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The Securities and Exchange Commission alleged crypto exchange Gemini and Genesis sold unregistered securities in an enforcement action late Thursday.
2023-1-13 01:07 | |
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Digital Currency Group (DCG), the conglomerate that owns crypto broker Genesis, is reportedly considering selling assets from its portfolio to pay Genesis’ $3 billion debt.
2023-1-13 19:45 | |
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Embattled crypto lender Genesis owes over $3 billion to its creditors, the Financial Times reported on January 12, citing sources familiar with the matter. The post DCG scrambling to raise funds to cover Genesis’ $3B debt burden appeared first on CryptoSlate.
2023-1-13 18:45 | |
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As part of its fundraising efforts, DCG is reportedly looking at selling some of its venture capital portfolio, worth around $500 million.
2023-1-12 16:23 | |
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As part of its fundraising efforts, DCG is reportedly looking at selling some of its venture capital portfolio, worth around $500 million.
2023-1-13 16:23 | |
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The contention between Gemini and the Genesis group has been spiraling, especially with the most recent development. Gemini has officially put a stop to the interest-bearing product, which is the flagship Earn program.
2023-1-12 18:33 | |
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The move, which Gemini says requires Genesis to return all locked-up assets, sunsets the exchange's nearly two year-old Gemini Earn program.
2023-1-11 20:50 | |
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Winklevoss, on behalf of Gemini, called for Silbert's removal for his involvement in the disagreement between Genesis and its creditors.
2023-1-11 17:05 | |
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The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 9, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
2023-1-9 16:21 | |
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Digital Currency Group, better known as DCG, is currently under investigation by U.S. authorities. According to a report by Bloomberg, U.S. prosecutors in New York – specifically, the city of Brooklyn – are assessing the internal transfers between the multibillion-dollar crypto conglomerate and its crypto lending arm, Genesis Global Capital. The crypto lending company has […]
2023-1-9 16:08 | |
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Officials with the U.S. Department of Justice's Eastern District of New York and the Securities and Exchange Commission are examining transfers between Digital Currency Group and Genesis, one of its subsidiaries, a report late Friday said.
2023-1-7 08:12 | |
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Despite only being a week into the new year, SuperRare adds to a number of firms announcing staff cuts such as Huobi and Genesis.
2023-1-8 05:45 | |
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After the FTX collapse, concerns around the Digital Currency Group (DCG) and its subsidiaries (Genesis, Grayscale) began spreading across the industry. Can the crypto market witness yet another contagion? Fears around the most exposed and whether this could lead to a chain reaction of cascading liquidations and insolvencies.
2023-1-7 18:00 | |
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Coinspeaker Genesis Global Dismisses Additional 30% of Staff Genesis conducted the latest staff cut after the company informed clients about "reducing costs and driving efficiencies" amid challenging times for many crypto firms.
2023-1-6 15:53 | |
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Digital Currency Group (DCG), the crypto conglomerate that owns lender Genesis Trading and asset manager Grayscale, among others, today made public that it has closed its asset management division called HQ Digital, fueling new fears within the bitcoin and crypto industry, given that the company managed $3.
2023-1-6 13:00 | |
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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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Genesis announced in August that it planned to cut its then-260-person workforce by 20%, with CEO Michael Moro moving into an advisory role.
2023-1-6 23:32 | |
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According to the Wall Street Journal, Genesis Global Trading Inc. let off 30% of its workforce today, the latest indication of the crypto lender's ongoing financial difficulties.
2023-1-6 22:56 | |
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The job cuts come a day after the company said it would be “reducing costs and driving efficiencies” amid a challenging environment for crypto companies.
2023-1-6 20:27 | |
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Renowned crypto firm Arcane Research has issued a warning to Bitcoin (BTC) and Ethereum (ETH) investors in light of the escalating events surrounding Digital Currency Group (DCG), Genesis, and Grayscale.
2023-1-5 16:30 | |
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ALSO: Bitcoin rose and most other, major cryptocurrencies spent much of Wednesday in the green.
2023-1-5 02:05 | |
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Genesis Trading, the cryptocurrency brokerage and lender that halted customer withdrawals in the aftermath of FTX collapse, believes it can sort out its financial problems. However, it needs more time in order to accomplish this, the troubled crypto lender’s interim CEO Derar Islim said.
2023-1-6 21:08 | |
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Derar Islim addressed the institutional crypto brokerage's clients in a letter on Wednesday.
2023-1-4 17:34 | |
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Genesis halted withdrawals in November in aftermath of FTX's collapse.
2023-1-5 17:34 | |
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Yesterday was Genesis Block day which is also known as the “birthday of Bitcoin,” the oldest (surviving) cryptocurrency according to Investopedia. On January 3, 2009, Bitcoin’s mystery creator Satoshi Nakamoto mined the first BTC block, marking the beginning of the digital currency’s 14-year lifespan.
2023-1-4 09:26 | |
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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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Besides the macroeconomic headwinds, when it comes to crypto, there are two main concerns at the moment: Binance and DCG. The situation surrounding Genesis Trading, Digital Currency Group (DCG) and Grayscale, which is still unresolved after a month, is depressing the market sentiment around Bitcoin.
2022-12-19 18:00 | |
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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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During a panel discussion at Taipei Blockchain Week, Darius Sit noted the continued institutional adoption of the crypto options and derivatives market, among industry high points; former FTX CEO Sam Bankman-Fried arrested.
2022-12-13 02:58 | |
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To strengthen liquidity, striving crypto exchange Genesis has announced ongoing work to preserve client assets. It might take weeks to come up with a plan. After locking up customers’ funds for about three weeks, Genesis Global Capital is reportedly working…
2022-12-9 17:40 | |
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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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The institutional crypto brokerage has been in talks with creditors and potential investors since the collapse of exchange FTX.
2022-12-8 19:38 | |
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The co-founder of Gemini, Cameron Winklevoss, on Wednesday announced via a series of tweets that the crypto exchange has launched a page to help Gemini Earn users. KEY TAKEAWAYS Gemini Earn was impacted after crypto lender Genesis paused withdrawals and Earn redemptions.
2022-12-7 12:36 | |
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The largest recipient of the Genesis Trading bankruptcy proceedings has recently been involved in a significant Ethereum sell-off. According to data provided by Arkham Intelligence, the creditor has sold 12,100 Ethereum (ETH) worth $31.43 million, within just three days. This…
Genesis Global and affiliated entities have begun disbursing $4 billion in creditor payouts following the completion of their restructuring process. According to an Aug. 2 statement, crypto lender Genesis Global started repayments to over 100,000 creditors after declaring bankruptcy in…
Genesis Trading has moved billions of dollars in recent days, potentially to manage creditor repayments as part of its financial restructuring efforts. The crypto lender, which is navigating bankruptcy, has reportedly transferred substantial amounts of Bitcoin (BTC) and Ethereum (ETH)…
A wallet linked to crypto lender Genesis has transferred 12,600 Bitcoin (BTC) worth approximately $760 million to crypto exchange Coinbase. On-chain data tracked by Arkham shows the addressed labeled “Genesis Trading” moved the funds to the exchange amid the broader…
Crypto exchange Gemini said users of its now-defunct Earn product received $2. 18 billion of their digital assets, according to a May 29 statement. These distributions amount to 97% of the total digital assets owed to Earn users, marking a significant recovery since the collapse of crypto lender Genesis, which halted withdrawals in November 2022.
The case of clients’ money from Gemini’s Earn program, frozen for a year and a half, is finally moving toward a resolution. On May 17, Judge Sean H. Lane approved Genesis’ Chapter 11 bankruptcy plan. The decision will allow the…
Genesis Global, the digital assets lender that went bankrupt last year, received court approval to pay billions in cash and crypto to creditors. The judge also rejected a legal challenge from Genesis Global's parent company, DCG.