Gemini Creditor Committee Presents Plan to Resolve Liquidity Issues
The creditor committee expects to hear from Genesis and DCG by the end of the week. Source
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Liquidity
Gemini Forms Creditors Committee With Houlihan Lokey to Resolve Genesis Liquidity Issues – Bitcoin News
Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was attempting to recover the funds by creating a creditors committee. 31 days after Gemini paused the Earn program’s withdrawals, Cameron
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Bitvavo to prefund locked DCG assets worth $296.7M amid liquidity crisis
The Digital Currency Group and its affiliates (DCG), which manages $296.7 million (280 million euros) in deposits and digital assets of crypto exchange Bitvavo for off-chain staking services, suspended repayments citing liquidity problems amid the bear market. However, Bitvavo announced to prefund the locked assets, preventing DCG-induced service disruption for
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Explaining the Difference Between Liquidity and Insolvency
To be fair, it is not just crypto companies that say they are merely suffering from a “liquidity crisis” when they are actually insolvent. Traditional financial institutions are just as likely to say everything will be fine if only someone will lend them some more money. For example, RBS, the
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Crypto Needs an FDIC-Like Protocol to Prevent Liquidity Crises
Crypto Needs an FDIC-Like Protocol to Prevent Liquidity Crises Original Source
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Binance creates industry recovery fund to help projects struggling with liquidity
As the effects of the FTX crisis continue to affect the markets negatively, crypto exchange Binance is creating a fund to help potentially strong projects that are having liquidity issues. In a tweet, Binance CEO Changpeng Zhao said that the fund aims to reduce the cascading negative effects of the collapse
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Binance Starts Recovery Fund for Crypto Projects Facing Liquidity Crisis
Tron founder Justin Sun said that Tron, Huobi Global, Poloniex will support Binance in its initiative. Source
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Liquidity hub Serum forked by developers after FTX hack
Solana's developers forked the widely used token liquidity hub Serum, after being compromised by a hack on the bankruptcy exchange FTX on Nov. 11 that led to a series of unauthorized transactions. According to pseudonymous developer Mango Max on Twitter, a "verified build of the same version has been made and
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Major VC Firm Sequoia Capital Marks FTX Investment to $0 — Says ‘Liquidity Crunch Has Created Solvency Risk for FTX’ – Exchanges Bitcoin News
Venture capital giant Sequoia Capital is marking its investment in the embattled crypto exchange FTX down to $0. “In recent days, a liquidity crunch has created solvency risk for FTX,” the firm stressed, adding that “The full nature and extent of this risk is not known at this time.” Sequoia Capital
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Tether Dominates Curve's 3pool Liquidity With DAI, USDC Accounting for Just 20%
Tether accounts for 80% of the total liquidity in Curve's 3pool. Source
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