CoinDesk to lay off part of editorial staff in preparation for sale of stake: Report
Estimates of staffers facing the axe range from 45% (20 people) to 16%. A company-wide meeting is reportedly scheduled for Aug. 14.This post was originally published on this site
Digital Currency Group files motion to dismiss Gemini lawsuit, claiming it’s a PR campaign
Gemini’s complaint filed in July alleged DCG and Barry Silbert had made “false, misleading, and incomplete representations and omissions” related to Genesis and the Earn program.This post was originally published on this site
Crypto Biz: Winklevoss slams Silbert, Twitter’s double-edged sword and more
This week’s Crypto Biz also explores Gemini’s fight with the Digital Currency Group (DCG) over user funds, new banking tools for the digital yuan, and OpenAI’s efforts to stop users from jumping paywalls.This post was originally published on this site
Gemini files lawsuit against Digital Currency Group and Barry Silbert over Genesis and Earn program
Gemini co-founder Cameron Winklevoss alleged Barry Silbert committed fraud by knowing Genesis was “massively insolvent” when attempting to continue the Earn program.This post was originally published on this site
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