Genesis, FTX Strike Deal for $175M Bankruptcy Claim
Lawyers are trying to untie a complex financial web among companies that went under in the crypto winter. Source
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Genesis
New York AG probes transactions at Genesis, ties with Barry Silbert: Report
Digital Currency Group (DCG) is now under scrutiny for its financial transactions involving its subsidiary, Genesis Global Capital. The investigation is reportedly being conducted by New York Attorney General Letitia James, Bloomberg reported, citing sources familiar with the matter.Federal prosecutors and the Securities and Exchange Commission are reportedly engaged in
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Crypto Custody Firm BitGo Hires Former Genesis Exec Matthew Ballensweig to Lead Go Network
“This next era of institutional adoption has to be done via a tech-focused mindset first; you can't just throw a balance sheet at it,” Ballensweig said in an interview with CoinDesk. “When I heard [BitGo CEO] Mike Belshe’s vision for this, it was precisely how I would have designed this
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Genesis Digital Assets opens three new facilities in South Carolina in US expansion
Bitcoin miner Genesis Digital Assets (GDA) announced on Aug. 1 that it has launched three new data centers in the U.S. state of South Carolina. The facilities came online in February and March.The facilities are located in the western part of the state, with the first opening in the town
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DCG Says It Sees Resolving Genesis Chapter 11 Bankruptcy Soon
The Genesis lending business froze withdrawals last year in the aftermath of FTX's collapse, which, among other things, affected customers of a lending product from the Gemini exchange. The led to a public war of words between the two sides, and this remains one of the more contentious issues to
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Court Filing Suggests FTX’s $2 Billion Lawsuit Against Genesis Is Coming To An End
The legal tussle between bankrupt crypto exchange FTX and crypto lender Genesis seems to be coming to a resolution, a recent court filing reveals. According to the letter filed yesterday at the US bankruptcy court for the Southern District of New York, both firms – who happened to have filed
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FTX, Genesis reach in-principle agreement to settle bankruptcy case
Bankrupt crypto exchange FTX and crypto lender Genesis have reached an agreement in principle to resolve the claims brought by FTX in its bankruptcy case.On July 27, legal counsels for both firms sent a letter to bankruptcy Judge Sean Lane stating that they had agreed to a settlement.However, the agreement
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FTX and Genesis Reach Agreement in Ongoing Bankruptcy Dispute
Genesis had emerged as the largest unsecured creditor of FTX and its affiliated companies, with $226.3 million owed, according to a January court filing that includes a list of major creditors. In parallel, FTX also claimed that Genesis owed nearly $4 billion, later reduced to $2 billion, which Genesis has
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Gemini files lawsuit against Digital Currency Group and Barry Silbert over Genesis and Earn program
United States-based cryptocurrency exchange Gemini has announced legal action against the conglomerate Digital Currency Group (DCG) and its CEO Barry Silbert, claiming “fraud against creditors”.In a July 7 filing in a New York court, Gemini alleged DCG and Silbert engaged in a scheme involving lending “huge amounts of cryptocurrency and
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Bankrupt Crypto Lender Genesis Amends Chapter 11 Plan as Mediated Talks With DCG Continue
The updated reorganization plan “reflects substantial agreement on certain key issues,” the filing said, but added that Genesis, its creditors and other stakeholders reserve their position in negotiations that are still ongoing. In April, for a 30-day period that was subsequently extended, the court appointed a mediator to resolve differences,
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