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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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“I literally had two coffees and a beer, and I had this eureka moment at four in the morning," Solana co-founder Anatoly Yakovenko recalls as he leans back thoughtfully. Speaking to Cointelegraph at the annual Breakpoint conference in Amsterdam, the co-founder recounts a late night brainwave of a “hyper-optimized, fast as possible”
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Genesis claims that, as market volatility increased, Gemini made significant withdrawal demands that harmed other creditors. Genesis Global Capital, a cryptocurrency lender, has filed a lawsuit against the Gemini cryptocurrency exchange, seeking the return of over $689 million in alleged preferential transfers. The embattled companies have been embroiled in a legal
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Genesis and Gemini have been embattled in a public and legal feud ever since the collapse of FTX. Genesis filed for bankruptcy in January. Its parent company, Digital Currency Group (DCG), was sued by Gemini in July over allegations that DCG then described as "defamatory" and a "publicity stunt." In
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Bankrupt crypto lender Genesis Global Capital has filed a lawsuit against cryptocurrency exchange Gemini to recover $689 million in preferential transfers, according to a Nov. 21 court filing.The lawsuit alleges that during the 90-day period before Genesis filed for bankruptcy in January, Gemini withdrew an “aggregate gross amount of no
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Genesis agrees to a $33 million settlement with Three Arrows Capital, significantly less than the original $1 billion claim, amid ongoing crypto turmoil. Bankrupt crypto lender Genesis has consented to a settlement with the now-defunct crypto hedge fund Three Arrows Capital (3AC), culminating in a $33 million payment against a staggering
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"The 3AC Debtor shall receive an allowed general unsecured claim against Genesis in the amount of $33,000,000 in full and complete satisfaction of the more than $1 billion dollars in claims asserted against each of the Genesis Debtors," the document said, adding that the agreement will "mutually release each other
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In a Nov. 9 court filing, Genesis, the cryptocurrency trading lender heavily impacted by the collapse of Three Arrows Capital (3AC) and FTX last year, is now seeking out court approval for a settlement agreement. The agreement is said to give 3AC an allowed general unsecured claim of $33 million against
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Bankrupt cryptocurrency lender Genesis has asked the court to approve its proposed settlement agreement with the imploded crypto hedge fund Three Arrows Capital (3AC).According to a court filing on Nov. 9, Genesis argued that the 3AC debtor should receive an allowed general unsecured claim against Genesis in the amount of
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With many analysts speculating the outcomes of the Spot Bitcoin ETF race, partner at CEHV, Adam Cochran, shares his perspective in a Nov. 8 post on X. From Cochran’s perspective, while odds are good for other ETFs, the Digital Currency Group (DCG) and more specifically the asset management unit Grayscale, may
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