Digital Currency Group
Bankrupt Crypto Lender Genesis and Parent DCG Reach Initial Agreement With Main Creditors
Crypto conglomerate Digital Currency Group (DCG) and its bankrupt Genesis subsidiaries reached an in-principle agreement on terms of a restructuring plan with a group of the firm’s main creditors. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses the terms of the proposed deal. DCG is the parent company of CoinDesk and Genesis.
Binance to Pause US Dollar Bank Transfers This Week; Genesis, DCG Reach Initial Agreement With Main Creditors: Source
Crypto exchange Binance is temporarily suspending U.S. dollar bank transfers starting on Wednesday. Binance's U.S. division, Binance.US, is not affected by the suspension, according to a tweet from Binance.US Customer Support. Separately, crypto conglomerate Digital Currency Group (DCG) and its bankrupt Genesis subsidiaries reached an in-principle agreement on terms of a restructuring plan with a group of the firm’s main creditors, according to a CoinDesk source. DCG is also the parent company of CoinDesk.
Grayscale Exec on GBTC Outlook
Grayscale Investments Chief Legal Officer Craig Salm discusses the Grayscale Bitcoin Trust (GBTC) as its discount continues to hover in the 40% range. Plus, reactions to Valkyrie Investments' offering to manage GBTC and whether Grayscale is considering offers. "Grasycale has zero intentions of removing ourselves as sponsor," Salm said. Digital Currency Group is the parent company of Grayscale and CoinDesk.
Grayscale Exec on Appeal of SEC's Decision on Bitcoin ETF
The District of Columbia Court of Appeals has set a date to begin hearing oral arguments in Grayscale Investment’s appeal of the SEC's decision to deny the conversion of the Grayscale Bitcoin Trust (GBTC) into an ETF. Grayscale Investments Chief Legal Officer Craig Salm discusses the case, hopes for a U.S. spot bitcoin ETF approval, and outlook for GBTC. Grayscale is owned by Digital Currency Group, which also owns CoinDesk.
First Hearing in Genesis Bankruptcy Case
Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection after being pummeled by two of 2022's biggest industry collapses. Former SEC Enforcement Branch Chief and Bragança Law Managing Partner Lisa Bragança discusses what to expect from its first bankruptcy hearing and whether Genesis' trading business is free of liability as the company's trading arm continues to move money around on blockchains, according to Nansen. Genesis and CoinDesk are both owned by Digital Currency Group (DCG).
Cameron Winklevoss Threatens to Sue DCG After Genesis Files for Bankruptcy
"The Hash" panel reacts to Gemini CEO Cameron Winklevoss threatening legal action against Digital Currency Group CEO Barry Silbert and DCG over the repayment of a $900 million loan. This came minutes after Genesis filed for Chapter 11 late Thursday night in New York. DCG is the parent company of CoinDesk and Genesis.
Anthony Scaramucci on FTX Fallout, DCG Troubles, Bullish Bitcoin Outlook
Skybridge Capital Founder Anthony Scaramucci, joining "First Mover" live from the World Economic Forum in Davos, Switzerland, discusses the collapse of crypto exchange FTX, its impact on Skybridge Capital, and its continuing domino effects, including crypto conglomerate Digital Currency Group's (DCG) decision to suspend dividends amid distress at DCG's lending unit, Genesis. Plus, Scaramucci's relationship with Sam Bankman-Fried, and why he remains bullish on bitcoin. DCG is the parent company of CoinDesk.
Bitcoin on Pace for Best Weekly Performance Since March
Bitcoin (BTC) is trading near $19,500 as the early 2023 rally pumped the price to a two-month high. CoinDesk's Managing Editor of Markets Brad Keoun discusses bitcoin's recent price actions, macro influence on the markets and short-term outlook for bitcoin. CoinDesk and Genesis are sister companies owned by Digital Currency Group (DCG).
SEC Cracks Down on Crypto Firms Gemini and Genesis
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against crypto exchange Gemini and crypto lender Genesis Global Capital for allegedly selling unregistered securities. Ashley Ebersole, 0x Labs General Counsel and former U.S. Securities and Exchange Commission attorney, shares his reaction to the timing of the lawsuit and the agency's approach to crypto regulation. CoinDesk and Genesis are both owned by Digital Currency Group (DCG).
