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Following Genesis Global Capital’s receipt of authorization to divest its Grayscale fund holdings, reports disclose that Genesis executed the sale last week. The proceeds were then used to procure 32,041 bitcoin, aimed at reimbursing its clientele. Genesis Liquidates Grayscale GBTC Holdings According to Bloomberg Law, court filings dated April 2 reveal that Genesis liquidated approximately … Read more
In recent weeks, Bitcoin.com News has chronicled the significant number of dormant bitcoin addresses that have sprung to life in March after years, if not a decade, of inactivity. Similarly, we’ve observed a resurgence of activity from older ethereum addresses. This Saturday highlighted a noteworthy event: an individual who took part in the Ethereum initial … Read more
Genesis Global Capital has settled with the U.S. Securities and Exchange Commission (SEC) and agreed to pay a $21 million civil penalty. The SEC further disclosed that the regulator will “not receive any portion of the penalty until after payment of all other allowed claims by the bankruptcy court, including claims by retail investors in … Read more
In an email found within the motion by Digital Currency Group (DCG) and Barry Silbert to dismiss the lawsuit initiated by the New York Attorney General, discussions of a potential merger between Gemini and Genesis were revealed before Genesis ultimately opted to declare bankruptcy. “Combined Gemini and Genesis would be a juggernaut and would be … Read more
Genesis Global Capital has received authorization to offload its stake in Grayscale’s Bitcoin Trust (GBTC), valued at approximately $1.3 billion. Genesis Global Permitted to Liquidate $1.3 Billion in Bitcoin Trust Shares According to Bloomberg, Genesis Global Holdco LLC secured Judge Sean Lane’s approval to liquidate its GBTC investments, currently estimated at $1.3 billion. The request … Read more
Digital Currency Group has over $320 million left to repay, according to Genesis, and the deal would see that remaining sum repaid by April next year. Go to Source
Genesis claims Gemini made preferential transfers of about $689,302,00 from Genesis and wants the court to “correct this unfairness.” Go to Source
Lawyers representing Gemini Trust filed a response in bankruptcy court to Digital Currency Group’s plan claiming to offer unsecured creditors a “70–90% recovery”. Go to Source
In January, Genesis Global Capital announced it would eliminate its crypto spot trading services “voluntarily and for business reasons” without additional details. Go to Source
FTX and Genesis lawyers have sent a letter to the bankruptcy judge regarding a settlement agreement. Go to Source Powered by WPeMatico
