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Genesis lenders call DCG agreement ‘wholly insufficient’

[Aug 30, 2023 7:46 AM] The agreement in-principle reached by DCG and creditors also said that the Ad Hoc Group and Gemini did not support the deal.

Genesis Lender Group Opposes ‘Wholly Insufficient’ DCG Deal

[Aug 30, 2023 3:43 AM] Creditors with $2.4 billion in claims against the bankrupt crypto lender could scupper an agreement made after months of wrangling.

DCG agrees deal with Genesis that would see recoveries of up to 90%

[Aug 29, 2023 2:22 AM] The estimated U.S. dollar equivalent recoveries could amount to 70%–90% for Genesis creditors, should the amended plan be carried out.

CoinDesk to lay off part of editorial staff in preparation for sale of stake: Report

[Aug 14, 2023 10:45 AM] Estimates of staffers facing the axe range from 45% (20 people) to 16%. A companywide meeting is reportedly scheduled for Aug. 14.

Cameron Winklevoss to DCG Amid Their Crypto Lending Fight: 'Good Luck' Convincing a Jury

[Aug 11, 2023 11:43 AM] His Gemini crypto exchange and conglomerate Digital Currency Group are battling – in and out of court – over the failure of Gemini's Earn lending service.

Digital Currency Group Strikes Back: Motion to Dismiss Gemini’s Lawsuit Filed

[Aug 10, 2023 10:00 PM] Digital Currency Group (DCG) has filed a motion to dismiss the lawsuit brought against them by Gemini Trust Company, LLC. The motion, filed in the Southern District of New York, argues that Gemini’s allegations of fraudulent…

Digital Currency Group files motion to dismiss Gemini lawsuit, claiming it's a PR campaign

[Aug 10, 2023 1:15 PM] Gemini’s complaint filed in July alleged DCG and Barry Silbert had made "false, misleading, and incomplete representations and omissions" related to Genesis and the Earn program.

Digital Currency Group Files to Dismiss Crypto Exchange Gemini’s Fraud Claims

[Aug 10, 2023 10:04 AM] DCG called Gemini’s July complaint a continuation of a “public relations campaign” carried out by the exchange’s owners, Cameron and Tyler Winklevoss.

New York AG probes transactions at Genesis, ties with Barry Silbert: Report

[Aug 5, 2023 11:34 AM] Digital Currency Group (DCG) is reportedly under investigation in New York for financial transactions involving its subsidiary, Genesis Global Capital.

Crypto Biz: Winklevoss slams Silbert, Twitter’s double-edged sword and more

[Jul 8, 2023 8:32 AM] This week’s Crypto Biz also explores Gemini’s fight with the Digital Currency Group (DCG) over user funds, new banking tools for the digital yuan, and OpenAI’s efforts to stop users from jumping paywalls.

Gemini Files Lawsuit Against Digital Currency Group and Barry Silbert Alleging Fraud and Deception

[Jul 7, 2023 11:30 AM] After Gemini co-founder Cameron Winklevoss published an open letter to Digital Currency Group (DCG) CEO and founder Barry Silbert, threatening legal action if the firm failed to respond by July 7, Winklevoss announced on Friday that his company had…

Gemini files lawsuit against Digital Currency Group and Barry Silbert over Genesis and Earn program

[Jul 7, 2023 9:17 AM] Gemini co-founder Cameron Winklevoss alleged Barry Silbert committed fraud by knowing Genesis was “massively insolvent” when attempting to continue the Earn program.

Gemini Sues Digital Currency Group and Founder Barry Silbert Alleging 'Fraud'

[Jul 7, 2023 9:06 AM] Gemini and its founders sued Digital Currency Group on Friday alleging that it incurred losses due to DCG's "false, misleading and incomplete representations" tied to DCG subsidiary Genesis' work with Gemini on the crypto company's Earn product.

Gemini's Cameron Winklevoss Tweets $1.5B 'Final Offer' in Debt Talks Over Crypto Firm Genesis

[Jul 3, 2023 7:59 PM] Creditors of the crypto financial firm Genesis call for $1.5 billion of forbearance payments and loans denominated in dollars, bitcoin and ether, according to a term sheet posted on Twitter by the Gemini co-founder.

Crypto Lender Genesis Amends Reorganization Plan as Mediated Talks Continue

[Jun 13, 2023 9:58 AM] The updated plan from mediated discussions with parent company DCG reflects “substantial agreement” on several key issues.

Genesis Bankruptcy Judge Extends Mediation Period Between Genesis, Creditors

[Jun 5, 2023 3:42 PM] The insolvent lender will now have until August 2 to submit a plan to emerge from bankruptcy.

Defunct Crypto Hedge Fund 3AC Insists on Taking Part in Genesis Mediation

[Jun 5, 2023 2:34 AM] The defunct crypto hedge fund has claimed over $1 billion against Genesis, which itself filed for bankruptcy in January.

FTX debtors object Genesis' 'critical' claims estimate of '$0.00'

[Jun 4, 2023 12:27 AM] The FTX debtors alleged that the claim was filed "without any advance notice," and they were not invited to participate in the mediation.

Digital Currency Group to Sunset Tradeblock, Cites ‘Regulatory Challenges’ and ‘Prolonged Crypto Winter’

[May 26, 2023 2:00 PM] Digital Currency Group has revealed its decision to sunset its institutional trading platform, Tradeblock, on May 31, 2023. The company attributes the move to the “challenging regulatory environment” and the enduring effects of the…

Digital Currency Group to shutter institutional trading unit TradeBlock

[May 25, 2023 4:25 PM] Starting from May 31, TradeBlock will commence the official procedure of winding down its operations.

DCG Sunsets Trade Execution, Prime Brokerage Unit TradeBlock

[May 25, 2023 3:11 PM] The crypto conglomerate suffered a loss of more than $1 billion last year.

DCG Fails to Make $630M Payment to Creditors Amid Genesis Negotiations, Says Gemini

[May 23, 2023 4:00 AM] In the midst of the financial dispute between crypto exchange Gemini and Digital Currency Group (DCG), Gemini has alleged that DCG failed to make a payment of around $630 million that was due last week. In response, Gemini has stated that it may…

Gemini Says Genesis Parent DCG Missed $630 Million Payment

[May 21, 2023 11:44 PM] Gemini says it is working with Genesis, DCG, and creditors to provide forbearance to DCG in order to avoid a default.

DCG settlement with Genesis still undecided as 30-day mediation period proceeds

[May 10, 2023 3:15 PM] The settlement plan proposed in February would give Genesis creditors 80% recovery of funds but many raised demands, leading to the mediation.

Privacy Project Railgun DAO Adopts Chainway’s ‘Proof of Innocence’ Tool

[May 8, 2023 7:58 AM] Railgun DAO’s new functionality – initially developed by the developer Chainway for use on Tornado Cash – could allow users to mathematically demonstrate that coins involved in transactions did not come from blacklisted addresses. Digital Currency�

Genesis Bankruptcy Parties Agree to 30-Day Mediation Period

[Apr 28, 2023 8:01 AM] The process can start once the parties agree on a mediator and submits an order to the U.S. bankruptcy court.

Genesis settlement disrupted by new creditor demands, DCG says

[Apr 25, 2023 7:57 AM] Under the initial settlement plan, Genesis creditors were expected to receive 80% recovery of funds lost due to the bankruptcy.

Crypto Exchange Luno to Withdraw From Singapore

[Apr 18, 2023 6:23 AM] Luno has informed the Monetary Authority of Singapore (MAS) that it is withdrawing its license application.

Crypto Exchange Luno Rejiggers Leadership Roles as It Seeks to Boost Investor Base, Eyes Public Listing

[Mar 22, 2023 4:00 AM] CEO Marcus Swanepoel is moving into a new role as executive chairman, and COO James Lanigan has been promoted to CEO.

Genesis Requests Timetable for Sale, Creditor Claims

[Mar 17, 2023 4:07 AM] The company wants to sell off its business after filing for bankruptcy on Jan. 19.