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Bankrupt crypto lender Genesis and its parent company, Digital Currency Group (DCG), has struck a deal that could end an ongoing lawsuit to claw back $620 million in repayments from DCG. In a Nov. 28 filing to a New York Bankruptcy Court, Genesis said DCG agreed to pay its outstanding $324.5
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Digital Currency Group reports a 23 percent rise in Q3 revenue to $188 million and reports notable repayments to bankrupt crypto lender Genesis. Digital Currency Group (DCG) has announced a robust 23 percent year-over-year increase in its third-quarter revenue, bringing the total to $188 million, up from last year’s $153 million.
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New York Attorney General Letitia James filed a lawsuit on Thursday accusing three major cryptocurrency companies — Gemini Trust, Genesis Capital, and Digital Currency Group — of perpetrating a $1 billion fraud scheme that harmed investors. According to an Oct. 19 The New York Times report, the lawsuit alleges that the
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In crypto, companies are often more intertwined and dependent than you would suspect, and, after a while, all of the schemes that brought down firms like Three Arrows Capital, Celsius Network and BlockFi begin to rhyme. Lied and lied to. Genesis’ hole appeared after the collapse of 3AC, itself brought
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New York Attorney General Letitia James today filed a lawsuit against cryptocurrency companies the Gemini Trust Company, trading firm Genesis Global Capital, and crypto conglomerate Digital Currency Group (DCG) for allegedly defrauding more than 230,000 investors, including at least 29,000 New Yorkers, of more than $1 billion. The lawsuit alleges
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New York Attorney General (NYAG) Letitia James today filed a lawsuit against cryptocurrency companies Gemini Trust Co. (Gemini), trading firm Genesis Global Capital and conglomerate Digital Currency Group (DCG) for allegedly defrauding more than 230,000 investors, including at least 29,000 New Yorkers, of more than $1 billion. Source
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Gemini, the crypto exchange founded by brothers Tyler and Cameron Winklevoss, has filed a lawsuit against Barry Silbert’s Digital Currency Group (DCG) alleging fraud. According to the court filing, filed on Sept. 15, Gemini claims that DCG is trying to avoid accountability for the damage inflicted on the victims of its
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Lawyers representing Gemini Trust have pushed back against a plan proposed by Digital Currency Group (DCG) for creditors of Genesis Global.In a Sept. 15 filing in the United States Bankruptcy Court for the Southern District of New York, the legal team accused DCG of gaslighting Genesis creditors through “contrived, misleading,
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Earlier this week, Genesis and its parent company, Digital Currency Group, said more than 230,000 retail creditors who used Gemini’s Earn program stand to be made “nearly whole” under a proposed remuneration deal to be voted on later this year. Earn was offered to customers of the Gemini crypto exchange,
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Digital Currency Group (DCG), the parent company of the insolvent crypto lending firm Genesis, is pushing for a repayment plan for its creditors, which includes participants in the Gemini Trust Co.’s Earn program. In a filing on Wednesday, Sep. 12, DCG assured Gemini Earn program investors that they could potentially receive
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