Genesis Trading’s largest creditor sold 12,100 ETH in three days, impacting market dynamics amid ongoing liquidation proceedings. Despite the large sale, Ethereum’s resilience suggests strong investor confidence, supported by continued…
Browsing: Genesis
As a student of mathematics, Marco Streng rose to prominence in the crypto industry by starting the biggest mining company in the world. Streng believes blockchain has great potential despite…
Despite a deal to repay victims in full amid the 2024 bull market, Barry Silbert’s attempts to block payouts using legal tactics have plunged investors into uncertainty. Barry Silbert’s background…
Bankrupt crypto firm Genesis Global has received authorization from a New York court to liquidate $1.6 billion in Grayscale shares, with a vast majority of it being in GBTC. With…
Binance is set to reduce its stake in Gopax, a move that would make it the second-largest shareholder in the exchange. Some sources have disclosed that the move is influenced…
Digital Currency Group and Genesis have settled their legal scores. The settlement might trigger a change in dynamics in the Genesis vs. Gemini pursuits. In a landmark development for the…
New York Attorney General Letitia James has sued Gemini, Genesis and DCG for defrauding investors. This lawsuit compounds the firms’ woes considering an earlier SEC suit filed against them over…
Genesis has officially sued Digital Currency Group (DCG) and Digital Currency Group International (DCGI) for loan repayment default. According to the report, DCG alone borrowed up to $500 million in…
There have also been reports that the Winklevoss twins are one of the interested parties willing to serve as a creditor for Genesis. Genesis’ problems were further compounded last week…
Digital Currency Group (DCG) owes creditors up to $3 billion through Genesis. The firm is exploring the sale of its Venture Capital Portfolio worth about $500 million to offset the…
SEC charges Gemini and Genesis for offering unregistered securities through the Gemini Earn program. The charges follow the collapse of the program along with approximately $900 million owed to 340,000…
Crypto veteran, Mike Novogratz is convinced the latest crypto crisis won’t be detrimental to the industry. The hurdles, according to him may make investors prioritize how they engage with the…
Neither the Eastern District of New York attorney office nor the US SEC has issued any comment or released any official statement concerning the matter. The Silbert-founded DCG started displaying…
Genesis has so far disclosed being $1.8 billion in debt, with the figure expected to increase Investors are, however, still confident that its sister firm Grayscale is not affected and…
Creditors of the crypto lending platform, Genesis, are out to prevent the bankruptcy of the platform by hiring restructuring lawyers and exploring other options to shield DCG. Economic factors such…
Gemini announced that it has been working alongside DCG to enable its users to redeem their funds after halting withdrawals due to the FTX crisis. Genesis is exploring several ways…
Sources familiar with the matter said that Genesis has hired an investment bank to explore different options, including bankruptcy. DCG chief Barry Silbert wrote to investors explaining the current situation…
Genesis Global Trading is the latest to be hit by the FTX contagion as the firm considers bankruptcy to avoid another broad crypto market scandal. Industry analysts criticize Singapore’s financial…
With GBTC trading at a 40 percent discount to the NAV, questions are rising if institutional players are losing confidence in Bitcoin. After the 3AC collapse, the FTX collapse has…