Genesis

Cryptocurrency exchange Gemini has initiated legal proceedings against Digital Currency Group (DCG) and its CEO, Barry Silbert, accusing them of misleading creditors. Gemini, in a court document submitted on July 7 in New York, accused DCG and Silbert of partaking in a plot that involved loaning...

Cameron Winklevoss, the co-founder of the popular crypto exchange Gemini on Monday made a “final offer” to resolve the ongoing debt-restructuring talks concerning Genesis, a bankrupt digital-asset firm.  What Happened: Winklevoss took to Twitter to share his proposed plan, which...

FTX (CRYPTO: FTT) has suddenly put a stop to the sale of a coveted asset, which was previously believed to be on the auction block after the crypto exchange declared bankruptcy in November. What Happened: Perella Weinberg Partners, the investment bank advising the FTX sale process, informed bidders...

Coinbase Global Inc (NASDAQ: COIN)-backed blockchain network Base is preparing for an impending mainnet launch, subject to a few key prerequisites being achieved. Base, which is focused on ensuring a secure network, announced the mainnet launch is contingent on proven testnet stability, a...

The five major crypto firms that collapsed last year — FTX, Celsius, Voyager, BlockFi and Genesis — did so because they offered customers instant withdrawals while their assets were locked inside illiquid, risky investments in an attempt to generate unsustainable yields. And because...

Connecticut-based cryptocurrency giant Digital Currency Group (DCG) reported on Monday a loss of $1.1 billion in 2022 due to a decline in cryptocurrency prices and the restructuring of Genesis, its lending platform. What Happened: According to the company's fourth-quarter investor...

Crypto company Digital Currency Group (DCG) is selling stakes in some of its investment funds at a steep discount to raise capital, as it tries to pay back creditors of its bankrupt lending unit Genesis, Financial Times reported, citing U.S. securities filings. The sale of the shares in several of...

Roger Ver, CEO of Bitcoin.com, said he has "sufficient funds" to pay GGC International, a unit of the now-bankrupt crypto broker Genesis the $21 million he owes. What Happened:  In a Reddit post on Wednesday, Ver said he has “sufficient funds on hand to pay Genesis...

Stablecoin issuer Circle (CRYPTO: USDC) has stated that the Securities and Exchange Commission is to blame for the failure of its $9 billion plans to go public through a SPAC deal. What Happened: The group abandoned listing plans in December, telling the Financial Times that the deal fell...

The District of Columbia Court of Appeals has scheduled a date to hear oral arguments in Grayscale's lawsuit against the Securities and Exchange Commission's (SEC) decision to deny the conversion of its Grayscale Bitcoin Trust (OTC: GBTC) to an exchange-traded fund (ETF). The hearing...

Bernstein analysts have labeled the recent crypto rally as a “mean reversion” to the sector's decisive lows in 2022.  What Happened: According to Bernstein, crypto was the most divisive asset class of the year, suffering from several high-profile frauds, reveals and...

A mysterious whale wallet that was active during the ICO period transferred large amounts of Ethereum (CRYPTO: ETH).  What Happened: The wallet, which had been dormant for six years, suddenly moved almost 50,000 Ethereum worth approximately $80 million to staking. See Also: Best Crypto Day...

Here's a round-up of stories from around the globe and from various media outlets. Benzinga Google To Fire 12K Employees Worldwide; Extends Support Packages Alphabet Inc.'s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google prepared to cut 12,000 jobs globally. CEO Sundar Pichai said...

Dogecoin (CRYPTO: DOGE) co-founder Billy Markus, popularly known as Shibetoshi Nakamoto said that “another day, another dumb f***ing crypto thing dies” in light of the recent bankruptcy filing of Genesis. What Happened:  Genesis’ crypto lending unit filed for...

Genesis Global, the crypto lending company that filed for bankruptcy protection in New York late Thursday, owes more than $3.6 billion to its top creditors.  What Happened: Genesis released a list of their top 50 unsecured creditors. We look at the top five unsecured claims,...