DCG
GBTC Discount Narrows; Alameda Sues Grayscale and DCG To Allow Redemptions
The Grayscale Bitcoin Trust (GBTC) discount to net asset value has fallen to its lowest level in a month, ahead of oral arguments in federal court on Tuesday related to Grayscale's SEC lawsuit. Meanwhile, FTX sister company Alameda Research has filed a lawsuit against Grayscale Investments seeking injunctive relief to realize over $250 million in asset value for the FTX Debtor’s customers and creditors. DCG is the parent company of CoinDesk and Grayscale.
Alameda Sues Grayscale and DCG to Allow Redemptions, Reduce Fees
The bankrupt trading firm is seeking injunctive relief to allow FTX debtors to realize what it claims is more than $250 million in asset value.
Crypto Bank Charter Firm Protego Trust Lays Off Most of Its Workforce: Source
Some employees are still in place and the firm’s operations are ready to launch, but money is a problem, said a person familiar with the situation.
SEC, CFTC Charge FTX’s Singh With Fraud Following Criminal Plea; Bitcoin ETF Dispute Heads to Court
The U.S. Securities and Exchange Commission and Commodity Futures charged former FTX director of engineering Nishad Singh with fraud allegations on Tuesday, following his guilty plea to similar charges in a federal court. Separately, Grayscale says it’s preparing to argue in court next week that the SEC inappropriately treated its bitcoin exchange-traded fund bid differently than earlier decisions approving bitcoin futures-based ETFs. Grayscale and CoinDesk are both owned by Digital Currency Group (DCG).
Crypto Conglomerate Digital Currency Group Reports Loss of $1.1B in ‘Challenging’ 2022
DCG held cash and cash equivalents of just $262 million at the end of 2022, while investment assets amounted to $670 million.
Grayscale’s GBTC Discount Widens to Near-Record High
Shares of the bitcoin trust are selling at a 47% discount to its net asset value. The discount has been increasing over the past week.
Genesis Publishes Proposed Sale Plan With DCG, Bankruptcy Creditors
Genesis Global Holdco filed for bankruptcy protection last month and unveiled the final details of a proposed plan to sell itself off alongside Genesis Global Trading to help parent Digital Currency Group (DCG) pay off some of the firm's creditors. "The Hash" panel discusses the latest in Genesis' bankruptcy process and what we know so far. DCG is the parent company of Genesis and CoinDesk.
Genesis Unveils Proposed Sale Plan With DCG, Bankruptcy Creditors
Parent company Digital Currency Group would turn its equity in Genesis Global Trading over to a holding company as part of an effort to sell both firms.
DCG Will Have a Headache For Many Years To Come: Lumida CEO
Digital Currency Group (DCG) intends to sell its subsidiary Genesis' crypto trading business as well as its lending arm, which is restructuring through bankruptcy, a Genesis attorney said Monday as the company revealed a pact with creditors. Lumida CEO and co-founder Ram Ahluwalia shares his analysis. DCG is also the parent company of CoinDesk.
DCG Creditor Pact Revealed With Plan to Sell Genesis Trading Unit as Part of Bankruptcy
Earlier Monday, CoinDesk reported that DCG and Genesis had reached an agreement with a key group of creditors. Lumida CEO and co-founder Ram Ahluwalia discusses the potential outcomes for Digital Currency Group amid crypto winter. Genesis and CoinDesk are both owned by DCG.
