DCG Responds to Genesis Bankruptcy; Bitcoin Jumps 4% As Contagion Fears Lessen
Digital Currency Group, the parent company of both Genesis and Grayscale, released a statement on Jan. 20 commenting on the news that Genesis had filed for Chapter 11 bankruptcy.
Winklevoss Threatens to Sue Barry Silbert and DCG Following Genesis Bankruptcy
Gemini Founder said Genesis’ bankruptcy declaration does not insulate DCG and Barry Silbert from facing legal actions, should they fail to offer reasonable solutions to repaying creditors.
Genesis’ House Of Cards: Projects Under Threat Amid Genesis Insolvency
Genesis Global Holdco LLC, a digital asset lender made it to the list of firms filing for bankruptcy after the horrible collapse of the FTX crypto exchange. The FTX contagion has now taken over the numerous crypto projects which have exposure to Genesis.
Genesis Owes More Than $3.6 Billion to Top 50 Creditors
Genesis Global, which filed for bankruptcy protection in New York late Thursday, owes more than $3.6 billion to its top creditors.
Cameron Winklevoss Threatens Legal Action Against DCG CEO After Genesis Bankruptcy
Gemini CEO Cameron Winklevoss threatened to sue Digital Currency Group CEO Barry Silbert over the repayment of a $900 million loan in a tweet published just minutes after the crypto lender’s Chapter 11 filed for Chapter 11 bankruptcy late Thursday night.The tweet comes after Winklevoss waged a Twitter war against DCG to recover the loan amid his exchange’s own struggles.
Crypto Exchange Luno's Co-Founder Departed in December
Cryptocurrency exchange Luno's co-founder and chief technology officer (CTO) Timothy Stranex exited in December to "pursue personal projects," the firm has said.
SSV DAO Starts $50M Fund To Push Ethereum’s Decentralization Plan
SSV DAO, the decentralized autonomous organization behind the decentralized staking protocol SSV.network, is starting a $50 million ecosystem fund to help mature Distributed Validator Technology (DVT) infrastructure.
Founder and CTO of DCG-Owned Crypto Exchange Luno Departs
Timothy Stranex, the founder and chief technology officer of the crypto exchange Luno, quietly left the firm in December to pursue "personal projects" after ten years at the company.
DCG’s Crypto Lender Genesis May File for Bankruptcy, According to Bloomberg Report
Bloomberg reported that Crypto brokerage firm Genesis Global Capital, which is estimated to owe creditors US$3 billion, may file for bankruptcy as early as this week, citing unnamed people familiar with the situation. Genesis, a subsidiary of Digital Currency Group (DCG), is still in talks with creditors and the bankruptcy filing plans could change, Bloomberg reported. Following the suspension, New York-based Gemini and South Korea’s GOPAX crypto exchanges halted withdrawals in their interest-bearing programs that had Genesis as their trading partner. (forkast)
Breaking: Genesis Is Reportedly Planning To File for Bankruptcy Soon
Troubled crypto lending platform – Genesis Global – has started to move towards filing for bankruptcy, according to a report by Bloomberg. The platform could file for bankruptcy as soon as this week. The platform has been on the brink of bankruptcy since November 2022, with the platform trying to raise nearly a billion in funds.
