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Genesis Global Capital Files for Over $600M in Unpaid DCG Loans: Court Docs
6.9.2023
Genesis Global Capital, a subsidiary of Digital Currency Group, filed in court for DCG to repay outstanding loans in excess of $600 million on Wednesday
US-based Genesis Global Trading will eliminate its crypto spot trading service
5.9.2023
The company, an affiliate of Barry Silbert’s Digital Currency Group, has been providing crypto spot trading since 2013. Its closure is “for business reasons.”
Lawyers Have Raked In At Least $700 Million From Major Crypto Implosions: New York Times Report
5.9.2023
Lawyers, accountants, and consultants make up professionals who have raked in over $700 million in fees following the collapse of several digital asset firms last year.
A new report by the New York Times shows how the unfortunate crypto incidents have led to an unexpected “financial bonanza”...
Samuel Trabucco’s Multi-Million Dollar Yacht Spotlighted in FTX’s Financial Records
4.9.2023
The FTX debtors filed a bankruptcy court document detailing lavish cash transfers and purchases by former CEO Sam Bankman-Fried and other company insiders. The section titled “Statement of Financial Affairs for Non-Individuals Filing for Bankruptcy” shows that Bankman-Fried reportedly...
FTX-Linked Wallet Moves $10 Million in Altcoins Ahead of Bankruptcy Hearing
4.9.2023
Bankrupt crypto exchange FTX’s Solana wallet has moved $10 million in altocoins to Ethereum network through the Wormhole bridge in the last 4 days, sparking fears of more token dumps in the market.
In a filing submitted the previous month, FTX debtors proposed a structured approach to crypto...
FTX wallet shifts $10M in crypto, sparking fear of token dumps to come
4.9.2023
The transfer of millions in altcoins has ignited concerns of FTX creating a potential dump across the crypto markets
Musk Funded Dogecoin, Mulled Blockchain Social Media, Biography Details
4.9.2023
A biography of billionaire investor Elon Musk reveals details about his involvement in the Dogecoin project and an idea to launch a social media platform based on blockchain. The book, which should be available later this month, also mentions a failed attempt by former crypto mogul...
The Great Shift to Self-Custody: 800,000 BTC Worth Over $20 Billion Pulled From Exchanges in 3 Years
3.9.2023
Over the past three years, there’s been a notable movement in bitcoin holdings. Since September 1, 2020, a whopping 804,000 bitcoin, equivalent to $20.79 billion, has been pulled from centralized exchanges. Notably, 184,000 BTC of that sum, valued at $4.75 billion, was withdrawn in just...
Robinhood to Buy Back SBF’s Stake for Over $605 Million
3.9.2023
Online broker Robinhood is going to buy back the stake purchased by a company of crypto exchange FTX founder Sam Bankman-Fried (SBF). The fintech intends to pay $605.7 million for the shares that were transferred to the custody of the U.S. government after the bankruptcy of SBF’s businesses....
Creditors Accuse Crypto Lender Genesis of Vote Buying as Bankruptcy Proceedings Continue
1.9.2023
Creditors of crypto lender Genesis and its parent company the Digital Currency Group (DCG) have opposed a proposed settlement deal leveling accusations of voter manipulation.
According to a filing on Aug. 31, creditors including digital asset exchange Gemini have criticized the proposal as...
Robinhood bought back Sam Bankman-Fried's stake from US govt for $606M
1.9.2023
The purchase of the 55 million Robinhood shares had been expected following approval from the company's board and a U.S. district court
Creditors Accuse Genesis of Ballot-Stuffing Over $175M FTX Deal
1.9.2023
Genesis is facing headwinds as it seeks to finalize its wind-up after a January bankruptcy – and is now being accused by Gemini and other creditors of voter “manipulation.”
Gemini and Two Other Creditor Groups Object to Genesis' Bankruptcy Resolution Proposal
31.8.2023
Crypto exchange Gemini has objected to Genesis' bankruptcy resolution proposal, claiming that the plan lacks necessary specifics and fails to offer adequate assurances to its major debtors.
Gemini has joined two other creditor groups in objecting to the proposed agreement.
As reported earlier...
Gemini and Two Other Creditor Groups Object to Genesis' Bankruptcy Resolution Proposal
31.8.2023
Crypto exchange Gemini has objected to Genesis' bankruptcy resolution proposal, claiming that the plan lacks necessary specifics and fails to offer adequate assurances to its major debtors.
Gemini has joined two other creditor groups in objecting to the proposed agreement.
As reported earlier...
Gemini Opposes Genesis Bankruptcy Plan: 'Woefully Light on Specifics'
30.8.2023
Attorneys for crypto exchange Gemini argued that a proposed resolution for Genesis' bankruptcy doesn't have enough detail or provide any assurances for some if its largest debtors in a new filing Wednesday
Prosecutors Challenge FTX Founder’s Legal Advice Defense Ahead of Fraud Trial
30.8.2023
Sam Bankman-Fried’s legal team claimed last week that the FTX founder received assurances from lawyers his actions were lawful. However, federal prosecutors are now contesting the validity of Bankman-Fried’s defense strategy ahead of trial. Bankman-Fried’s Legal Defense...
Genesis lenders call DCG agreement ‘wholly insufficient’
30.8.2023
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
30.8.2023
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%
29.8.2023
The estimated USD equivalent recoveries could account for 70% to 90% for Genesis creditors, should the amended plan be carried out
DCG Reaches Crucial In-Principle Deal With Genesis Creditors, Recoveries Could Be Up to 90%
29.8.2023
Digital Currency Group (DCG) and Genesis creditors have reached a deal in principle to resolve the claims in the Genesis Capital Chapter 11 cases, according to a court filing on Tuesday