Cryptocurrency Analysis and News Portal
The stay has been modified to allow FTX debtors to make "arguments, defenses, counterclaims, setoffs, or otherwise ... with respect to the BlockFi claims in the FTX bankruptcy proceeding," according to a Nov. 13 court order by U.S. bankruptcy judge Michael Kaplan. Original Source
Read More
Tensions were apparent between the sides in court, as a lawyer for BlockFi said 3AC has a “runaway” legal counsel who is dragging things out and piling up more than $16 million in legal bills. A lawyer for the hedge fund, Adam Goldberg from the firm Latham & Watkins, said
Read More
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
Read More
Digital Currency Group (DCG), the parent company of crypto firm Genesis Capital, has reported no solution to its “outstanding intercompany obligations” that could help reimburse creditors.In a May 9 announcement, DCG said it was in the middle of a 30-day mediation period with Genesis in response to creditor demands. The firm
Read More
Crypto lender Genesis and its key creditor group have agreed to a 30-day mediation process in an attempt to move forward with a final restructuring plan, though one company is expressing "frustration" over the pace of progress.On April 30, Gemini tweeted that Genesis, its parent company Digital Currency Group (DCG),
Read More
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
Read More