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. Go to Source
Digital Currency Group
Auto Added by WPeMatico
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 from jumping paywalls. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
FTX debtors object Genesis’ ‘critical’ claim estimate of ‘$0.00’
The FTX debtors alleged that the claim was filed “without any advance notice,” and were not invited to participate in the mediation. Go to Source Powered by WPeMatico
Digital Currency Group to shutter institutional trading unit TradeBlock
Starting from May 31, TradeBlock will commence the official procedure of winding down its operations. Go to Source Powered by WPeMatico
DCG settlement with Genesis still undecided as 30-day mediation period proceeds
The settlement plan proposed in February would give Genesis creditors 80% recovery of funds but many raised demands, leading to the mediation. Go to Source Powered by WPeMatico
Genesis settlement disrupted by new creditor demands, DCG says
Under the initial settlement plan, Genesis creditors were expected to receive 80% recovery of funds lost due to the bankruptcy. Go to Source Powered by WPeMatico
Crypto Biz: Silvergate shutting down, Alameda suing Grayscale
Negative headlines surrounding Silvergate dragged Bitcoin’s price below $20,000. Meanwhile, bankrupt Alameda is planning to sue Grayscale and its parent company DCG. Go to Source Powered by WPeMatico
DCG losses top $1B on the back of 3AC collapse in 2022
The crypto conglomerate reported that falling crypto prices and the fallout from Three Arrows Capital’s loan default to Genesis affected its results. Go to Source Powered by WPeMatico
Crypto Biz: FTX clawbacks, Genesis silver lining?
As FTX seeks clawbacks on political donations, Digital Currency Group and its bankrupt subsidiary, Genesis Global Trading, have reached an agreement on restructuring. Go to Source Powered by WPeMatico
