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Bitvavo Rejects DCG’s 70% Repayment Proposal

Crypto exchange Bitvavo rejected Digital Currency Group’s (DCG) proposal to repay 70% of its debt because the embattled firm has sufficient funds to make full repayment, according to a Jan. 10 statement.

Bitvavo maintained that it was confident that a solution could be found to satisfy all the concerned parties.

According to the Netherlands-based company, the debt repayment would not be affected by the reported investigations into DCG nor the possible bankruptcy of crypto lender Genesis. However, the process could impact the repayment timelines.

(By Oluwapelumi Adejumo)

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