Cryptocurrency Analysis and News Portal
“Depending on how the bankruptcy claim is calculated, the Earn customers are estimated to get between $440 million and $765 million of a claim,” a DCG executive, who asked not to be identified, said in an interview. “That claim is estimated to receive distributions of $400 million to $535 million.
Read More
Digital Currency Group (DCG) has proposed a new agreement plan for the creditors of the now-bankrupt Genesis Global that would also see Gemini Earn users recover nearly all of their claims.In a new filing on Sept. 13, DCG outlined a plan that estimates “unsecured creditors a 70–90% recovery with a
Read More
Genesis Global is suing its parent company, Digital Currency Group (DCG), to recover $620 million in unpaid loans amid ongoing bankruptcy proceedings and settlement talks. The lawsuit was filed in a New York bankruptcy court on Wednesday, Sep. 6. Genesis’ lawsuit centers on loans they claim matured in May. This debt
Read More
Bankrupt cryptocurrency lender Genesis Global Capital (GGC) filed two suits on Sept. 6 seeking the repayment of overdue loans from affiliated companies. The loans are worth over $600 million in total. GGC filed the complaints against Digital Currency Group (DCG) and DCG International Investments (DCIG) in the Southern District of New
Read More
Genesis Global Capital, a subsidiary of Digital Currency Group, filed in court for DCG to repay outstanding loans in excess of $600 million on Wednesday. Source
Read More
The lenders of the bankrupt cryptocurrency lender Genesis are not satisfied with the latest in-principle settlement agreement with other parties including the Digital Currency Group (DCG).The Ad Hoc Group of Genesis Global Capital (GGC) lenders — represented by lawyers Brian Rosen and Jordan Sazant — on Aug. 29 responded to
Read More
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied DCG and its subsidiary, Genesis, reached a pivotal legal agreement that may reimburse creditors up to 90% and stabilize the volatile cryptocurrency market. In a pivotal development, Digital Currency Group (DCG) and its subsidiary, Genesis, have reached
Read More
Digital Currency Group (DCG), a major venture capital firm in the cryptocurrency industry, has reached an agreement in principle with creditors of its crypto lending subsidiary, Genesis.According to a court filing published on Aug. 29, the estimated United States dollar equivalent recoveries could amount to 70%–90% for unsecured creditors, should
Read More
To satisfy DCG's existing liabilities of approximately $630 million in unsecured loans due in May 2023 and $1.1 billion under an unsecured promissory note due in 2032, a new partial repayment agreement was agreed upon with two tranches – approximately $328.8 million with a two-year maturity and $830 million
Read More
DCG called Gemini’s July complaint a continuation of a “public relations campaign” carried out by the exchange’s owners, Cameron and Tyler Winklevoss, and “an effort to deflect blame by contriving a public, Twitter-based character assassination campaign against Defendant DCG (Genesis’ indirect parent) and Silbert (DCG’s founder) — neither of whom
Read More