Bankruptcy
Beleaguered Gemini Earn Customers Will Be Made ‘Nearly Whole,’ DCG and Genesis Say About Remuneration Plan
A filing on Wednesday states that if the assorted creditor groups vote through the proposed deal, then “Gemini Earn users are estimated to recover approximately 95-110% of their claims.”
FTX Tweaks Crypto Sale Proposal to Placate U.S. Government
The bankrupt crypto exchange wants to sell off its billions of dollars in crypto before returning funds to creditors – but doesn’t want markets forewarned
FTX Holds $1.16B in SOL, $200M in Bahamas Real Estate, Court Filing Says
The company says it paid billions to executives including founder Sam Bankman-Fried before filing for bankruptcy last year.
Steve Kokinos, Creditors Named to Run Celsius 2.0
Executives from WeWork, Lehman Brothers and miner US Bitcoin will serve on the board of the crypto lender’s successor, as will two members of Celsius’ own creditor committee
Celsius Network Files 'Adversary Complaint' Against EquitiesFirst to Recover Assets
The private lender owed Celsius $439 million of assets as of July 2022.
Genesis Global Capital Files for Over $600M in Unpaid DCG Loans: Court Docs
Genesis claims DCG owes it $500 million from one set of loans, alongside another 4,550 BTC owed from DCG International.
Creditors Accuse Genesis of Ballot-Stuffing Over $175M FTX Deal
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 Opposes Genesis Bankruptcy Plan: 'Woefully Light on Specifics'
Gemini joins two other creditor groups in objecting to Genesis' proposed agreement to resolve its bankruptcy.
Genesis Lender Group Opposes ‘Wholly Insufficient’ DCG Deal
Creditors with $2.4 billion in claims against the bankrupt crypto lender could scupper an agreement made after months of wrangling.
DCG Reaches In-Principle Deal With Genesis Creditors
Court filings reveal that Digital Currency Group (DCG) has reached an in-principle deal with Genesis creditors to resolve the claims brought up in the crypto lender's bankruptcy. The plan could result in recoveries of 70% to 90% in USD equivalent for unsecured creditors and 65% to 90% recovery on an in-kind basis. "First Mover" hosts Jennifer Sanasie and Amitoj Singh weigh in. DCG is the parent company of Genesis Global and CoinDesk.
