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Genesis and DCG Creditor Committee Propose Plan for Asset Recovery

Houlihan Lokey, an investment and financial services firm, presented a liquidity resolution plan on behalf of the creditor committee for the crypto broker Genesis and its parent company, DCG.

Gemini co-founder Cameron Winklevoss took to Twitter to explain the path for asset recovery for Gemini Earn users. "This plan is based on information received from Genesis, DCG, and their respective advisors to date. The creditor committee expects an initial response this week," Winklevoss wrote. 

The update comes in an attempt for the beleaguered firms to pay back Gemini Earns users, a program in which individuals lent out their digital assets and expected a yield. The program has been frozen since mid-November amid a liquidity crises from Genesis and DGC.

(by MK Manoylov)

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