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New York AG reaches $2B settlement with Genesis ’for defrauded victims’
20.5.2024
The attorney general’s office filed a lawsuit against Genesis in October 2023 for allegedly defrauding investors through the Gemini Earn program
Genesis Set to Return $3B Customer Assets in Finalized Bankruptcy Liquidation Plan
20.5.2024
Bankruptcy claims began trading at 35% of account balance value when they were initially listed on claim trading marketplace Xclaim
Failed Crypto Lender Genesis to Disburse $3B to Creditors in Bankruptcy Case
20.5.2024
Judge Sean Lane greenlit Genesis Global's Chapter 11 plan on Friday, allowing the defunct crypto lender to repay creditors roughly $3b in crypto and cash.
The post Failed Crypto Lender Genesis to Disburse $3B to Creditors in Bankruptcy Case appeared first on Cryptonews
Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BTC
19.5.2024
Based on the latest data, the well-known Genesis address owned by Satoshi Nakamoto now holds over 100 BTC after someone inadvertently sent 0.10754671 BTC, valued at $7,211, to the wallet. The current value of the wallet, which has never been spent, is estimated at $6.75 million. Another...
Court Approves Crypto Lender Genesis’ $3 Billion Payout to Customers
18.5.2024
Crypto lender Genesis Global obtained court approval Friday to return approximately $3 billion to its customers as part of its bankruptcy liquidation. U.S. Bankruptcy Judge Sean Lane approved Genesis’ Chapter 11 plan, overruling an objection from its equity owner, Digital Currency Group...
Genesis Global secures court approval for $3B payout
18.5.2024
According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG’s equity stake
Ouroboros Genesis: Unveiling the latest design innovations
17.5.2024
The appearance of Ouroboros Genesis marks a significant step forward in the process of creating Cardano’s core consensus protocol, Ouroboros. This update is designed to safeguard users who have recently joined the network or returned to the network. The Cardano blockchain runs on...
Genesis Digital Assets to Launch Flare Gas Powered Bitcoin Mining Site in Argentina
9.5.2024
Genesis Digital Assets, a leading digital miner, has partnered with YPF Luz, an Argentine power company, to receive power from a flare gas installation to operate a bitcoin mining site in Argentina. The data center facility, in the Bajo del Toro thermoelectric plant, will host 1,200 bitcoin miners....
Bitcoin reaches one billion transactions
6.5.2024
An average of 178,475 daily transactions have been made on Bitcoin in its 5,603 day existence
DCG Boosts Legal Arsenal with First Chief Hire During New York AG Dispute
26.4.2024
Digital Currency Group (DCG), parent firm of bankrupt crypto lender Genesis, has brought on its first-ever chief legal officer as it faces a lawsuit from New York’s Attorney General.
The post DCG Boosts Legal Arsenal with First Chief Hire During New York AG Dispute appeared first on Cryptonews
Protocol Village: SEDA, Data and Computation Network, Launches Mainnet Genesis
25.4.2024
The latest in blockchain tech upgrades, funding announcements and deals. For the period of April 25-May 1
Stepn Partners With Adidas to Issue Genesis Sneakers NFTs
17.4.2024
Stepn, a lifestyle and move-to-earn application, partnered with Germany-based apparel company Adidas to issue the Genesis Sneakers NFT collection. The collection, which marks the start of a one-year collaboration between these organizations, comprises 1,000 NFTs inspired by Adidas’...
Genesis Sells Grayscale Shares, Buys $2.17 Billion in Bitcoin for Customer Reimbursement
6.4.2024
Following Genesis Global Capital’s receipt of authorization to divest its Grayscale fund holdings, reports disclose that Genesis executed the sale last week. The proceeds were then used to procure 32,041 bitcoin, aimed at reimbursing its clientele. Genesis Liquidates Grayscale GBTC Holdings...
Genesis Converts GBTC Shares into Bitcoin: Acquires 32,000 BTC in Major Move
6.4.2024
Bankrupt crypto lending firm Genesis has converted approximately 36 million shares of Grayscale Bitcoin Trust (GBTC) into Bitcoin as part of preparations to settle its debts with creditors.
The post Genesis Converts GBTC Shares into Bitcoin: Acquires 32,000 BTC in Major Move appeared first...
Genesis Completes Redemption of GBTC Shares, Buys 32K Bitcoins with Proceeds
5.4.2024
The company in February got permission from a New York bankruptcy court to sell approximately 36 million shares of Grayscale's Bitcoin Trust
Barry Silbert Could Pocket $1 Billion in Personal Gains by Exploiting Bankruptcy System: Report
27.3.2024
Barry Silbert, founder and CEO of crypto conglomerate Digital Currency Group (DCG), stands to potentially gain up to $1 billion through a sophisticated maneuver involving the bankruptcy system.
The post Barry Silbert Could Pocket $1 Billion in Personal Gains by Exploiting Bankruptcy System: Report...
Unlocking Crypto History: 2,000 ETH From Ethereum’s Genesis Days Suddenly Moved
24.3.2024
In recent weeks, Bitcoin.com News has chronicled the significant number of dormant bitcoin addresses that have sprung to life in March after years, if not a decade, of inactivity. Similarly, we’ve observed a resurgence of activity from older ethereum addresses. This Saturday highlighted...
Crypto Lender Genesis Requests US Bankruptcy Court to Approve ‘Settlement Principle’
20.3.2024
The insolvent cryptocurrency lender, Genesis, has petitioned a U.S. bankruptcy court to approve a proposed settlement principle announced on Feb. 28. According to an update, if the court approves the settlement, Genesis Earn users will receive all of their digital assets back in kind....
Genesis Agrees to Pay $21M Fine to Settle SEC Crypto Lending Charges
19.3.2024
Bankrupt cryptocurrency lender Genesis Global Capital has agreed to pay a $21 million fine as part of a final court judgement to settle charges with the U.S. Securities and Exchange Commission (SEC). In an official ruling released on March 19, the SEC highlighted the reason for the penalty...
Genesis to Pay SEC $21M Penalty to Settle Charges Over Gemini Earn Product
19.3.2024
The bankrupt crypto lender Genesis Global Capital has agreed to a final judgment ordering it to pay $21 million to settle charges with the U.S. Securities and Exchange Commission (SEC) for violating securities laws by offering and selling its now-defunct Gemini Earn program, the SEC announced...