Genesis settlement disrupted by new creditor demands, DCG says
Under the initial settlement plan, Genesis creditors were expected to receive 80% recovery of funds lost due to the bankruptcy.This post was originally published on this site
DCG losses top $1B on the back of 3AC collapse in 2022
The crypto conglomerate reported that falling crypto prices and the fallout from Three Arrows Capital’s loan default to Genesis affected its results.This post was originally published on this site
Genesis unsecured creditors’ committee appointed
The seven-member committee will represent the creditors in court, having the right to participate in the reorganization plan. This post was originally published on this site
Genesis bankruptcy case scheduled for first hearing
The first hearing in Genesis Capital’s bankruptcy case will be held on January 23, according to court filings.This post was originally published on this site
Genesis’ bankruptcy filing was decided by independent committee, according to DCG
A special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection.This post was originally published on this site
Crypto Biz: SBF’s newest Excel spreadsheet reveals all
FTX’s debtors are applying “Herculean” effort to unearth the exchange’s remaining assets. Meanwhile, Sam Bankman-Fried claims FTX US is solvent. This post was originally published on this site
Opinion: Digital Currency Group’s Genesis implosion marks another bottom in trust for crypto
Genesis, a subsidiary of Barry Silbert’s Digital Currency Group, filed for Chapter 11 bankruptcy on Jan. 19. Its default could have big implications for the crypto industry.This post was originally published on this site
Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy
According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, announced his intentions to purchase Coindesk along with other members of the crypto industry. This news follows a report from Semafor at the end of November 2022 stating that […]
Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis
According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis Global Capital, with operating an “unregistered offer and sale of securities to retail […]
Genesis is planning to file for bankruptcy: Report
Another one bites the dust? Reports suggest the initial filing could come later this week.This post was originally published on this site