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On Jan. 20, the three affiliated companies Genesis Global Holdco LLC, Genesis Asia Pacific Pte. Ltd and Genesis Global Capital LLC filed for bankruptcy. At the time, DCG said it owed Genesis Capital $526 million, due in May 2023, plus $1.1 billion under a promissory note due in June 2032. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied During a Senate hearing on May 31, Elizabeth Warren highlighted the extensive utilization of cryptocurrency in the Chinese fentanyl trade. Senator Warren, a prominent figure in the Senate Banking Committee, referenced data from research firm Elliptic,
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Popular interactive artificial intelligence (AI) chatbot, ChatGPT, has been reallowed to provide services in Italy after addressing the privacy concerns raised by the region’s data protection agency, Garante.On March 31, OpenAI’s ChatGPT was placed on a temporary ban in Italy after a watchdog suspected the AI chatbot of violating the
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Crypto exchange Kraken is taking the fight against the United States Internal Revenue Service (IRS) and its demand to present critical exchange user information to the court. The exchange deemed IRS’s demand for customer information as an “unjustified treasure hunt.”The crypto exchange has requested a federal court in San Francisco
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Troubled digital currency company Genesis Capital saw its settlement disrupted by creditors in two months after the initial agreement, raising concerns about the timing of the process.Genesis’ parent company, Digital Currency Group (DCG), took to Twitter on April 25 to issue a statement on Genesis filing a motion for mediation.
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Digital asset exchanges must be obliged to provide user information to Russia’s law enforcement agencies, the country’s Prosecutor General has insisted. The circulation of cryptocurrencies in the Russian Federation needs to be regulated to counter money laundering, the official added. Cryptocurrency Exchanges Have to Report to Russian Authorities, Chief Prosecutor Says Crypto
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Its new proposals represent a major deviation from the path that Arbitrum was initially towing. The Arbitrum Foundation has responded to last week’s protests of its community of ARB token holders by proposing two new motions. This follows after the huge backlash that erupted over the earlier plans of the foundation
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The Virtual Assets Regulatory Authority (VARA), the entity that oversees crypto activities in Dubai, has asked Binance to provide more information about its business requirements in its efforts to tighten regulatory guardrails in the emirate, Bloomberg reported.Citing three anonymous sources, Bloomberg reported on April 5 that the regulator had asked Binance
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Genesis Global Trading, a prominent crypto lender, filed for Chapter 11 bankruptcy protection in New York on Jan. 20, becoming the latest company to declare bankruptcy in the wake of FTX’s collapse. However, the focus of the crypto community has shifted toward other firms that had exposure to the lending
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Gemini CEO Cameron Winklevoss has published another open letter on Twitter, addressed to the board members of Digital Currency Group (DCG). In the letter, Winklevoss accuses DCG and CEO Barry Silbert of making poor decisions with the now-defunct crypto hedge fund Three Arrows Capital (3AC), and claims that DCG orchestrated
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