2023-8-30 16:46 |
The in-principle agreement reached by DCG and creditors also said that the ad hoc group and Gemini did not support the deal.
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Creditors with $2.4 billion in claims against the bankrupt crypto lender could scupper an agreement made after months of wrangling.
2023-8-30 12:43 | |
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The latest update for the financial complications faced by Genesis Global, a notable name in the crypto lending space, and its parent company, Digital Currency Group (DCG), shows that both entities seem to have navigated their way out of the murky waters, striking an agreement with their creditors.
2023-8-30 02:00 | |
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The agreement will mitigate financial challenges faced by Genesis. The proposed amendments could facilitate recoveries ranging from 65% to 90% of assets. Digital Currency Group (DCG) has reaThe post Crypto firm Genesis secures landmark agreement appeared first on AMBCrypto.
2023-8-29 16:00 | |
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Digital Currency Group (DCG) moving toward resolving the financial challenges of its crypto lending subsidiary, Genesis. The agreement could possibly lead to a fair recovery for creditors. The agreement is still subject to several handles, but Genesis expects the agreement to be completed in the coming weeks.
2023-8-29 13:14 | |
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The estimated U.S. dollar equivalent recoveries could amount to 70%–90% for Genesis creditors, should the amended plan be carried out.
2023-8-29 11:22 | |
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Gemini co-founder Cameron Winklevoss has given business partner Barry Silbert until 4p.m. ET today to respond to a proposed agreement for Earn customers. The post Will DCG and Barry Silbert Respond to Winklevoss Offer? appeared first on BeInCrypto.
2023-7-6 14:08 | |
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The updated plan from mediated discussions with parent company DCG reflects “substantial agreement” on several key issues.
2023-6-14 18:58 | |
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The move by Genesis creditors comes months after they had appeared to reach an initial agreement with Genesis-owner DCG.
2023-4-25 15:55 | |
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A group of unnamed Genesis Capital creditors have raised new demands and walked away from their previous agreement with the bankrupt crypto firm. Genesis Capital wants the court to appoint a mediator In an April 24 court filing, the bankrupt crypto lender applied for appointing a sitting bankruptcy judge in the Southern District of New […] The post Multiple Genesis Capital creditors walk away from agreement – DCG responds appeared first on CryptoSlate.
2023-4-25 15:17 | |
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Alameda Research Ltd, the FTX debtor, has filed a lawsuit against Grayscale Investment's CEO and owners over firm mismanagement in part of the Trust agreement violation.
2023-3-7 19:14 | |
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The Digital Currency Group and Genesis have reached an initial deal with a group of the firm’s main creditors. The agreement involves selling Genesis’ bankrupt entities and refinancing ouThe post DCG and Genesis reach initial deal to restructure plan with creditors appeared first on AMBCrypto.
2023-2-7 14:30 | |
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The plan would see the sale of Genesis alongside other measures in a deal reached with DCG and Gemini Trust Co.
2023-2-8 05:05 | |
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Digital Currency Group (DCG) appears to have avoided possible bankruptcy as its sister firms, and Genesis subsidiaries, have reached an agreement with creditors to avoid going under. The post DCG Fights Back as Genesis Rises From Possbile Bankruptcy appeared first on BeInCrypto.
2023-2-7 21:53 | |
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Per a report from CoinDesk, crypto lending firm Genesis and its parent company Digital Currency Group (DCG) are moving forward with the former’s bankruptcy process. The companies reached a “principle agreement” to restructure the lending firm.
2023-2-7 21:32 | |
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The deal includes "an equitization of the infamous 10-year promissory note that DCG gave Genesis in return for the 3AC claims," a person familiar with the situation said.
2023-2-7 20:42 | |
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Ethereum-based data startup, The Graph, has revealed that it has raised $5 million after its token sale. The San Francisco firm announced on Tuesday that the new token sale, utilizing the Simple Agreement for Future Tokens (SAFT) model, for various accredited investors.
2020-7-1 23:35 | |
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The filing alleges that FTX was already insolvent and the FTT tokens used in a share repurchase transaction were worthless, and therefore the transfer should be classed as fraudulent.
The costly meltdown of global exchange FTX is still settling big chunks of its bankruptcy drama, now securing about $228 million from Bybit to further feed the cash dispersal that was approved in court earlier this month.
Bankrupt cryptocurrency exchange FTX has proposed a new reorganization plan that would see a whopping 98% of its creditors get back 118% of their claims – in cash – within 60 days of court approval, according to new documents filed Tuesday evening.
AI firm Anthropic has blocked Saudi Arabia from engaging in the sale process of 8% of its shares — currently owned by defunct crypto exchange FTX, CNBC reported on March 22, citing people familiar with the matter.
John J. Ray III Fires Back Against SBF’s ‘Delusional’ Claims Customers Lost No Money in FTX Collapse
London-based investment firm Attestor Capital, a top holder of FTX bankruptcy claims, has filed suit against a FTX creditor who allegedly promised to sell the firm two FTX accounts, only to back out of the deal once the value of its claims skyrocketed.
Gemini told the New York Department of Financial Services it would return at least $1.1 billion to its Earn customers after Genesis Global Capital wraps up its bankruptcy process, according to NYDFS.