Genesis
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.
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.
Bankrupt Lender Genesis and Parent DCG Reach Initial Agreement With Main Creditors: Source
The term sheet includes "an equitization of the 10-year promissory note that DCG gave Genesis in return for the 3AC claims," a person familiar with the situation said.
Crypto Exchange Gemini Emphasized FDIC Insurance in Communications With Earn Customers: Report
Gemini reportedly repeatedly implied that the assets of customers using its Earn product were safe thanks to being backed by the Federal Deposit Insurance Corp.
'Bitcoin Jesus' Says He Has the Money to Pay Crypto Lender Genesis
Roger Ver, the blockchain-industry veteran once known as “Bitcoin Jesus” thanks to his early evangelism for the cryptocurrency, said Wednesday that he has “sufficient funds” to make good on payments allegedly owed to the crypto lending firm Genesis Global. Genesis is a subsidiary of Digital Currency Group (DCG), a crypto conglomerate that also owns CoinDesk.
'Bitcoin Jesus' Says He Has the Money to Pay Ailing Crypto Lender Genesis
Roger Ver, an early Bitcoin advocate who now advocates for the Bitcoin Cash blockchain, has been accused in court by Genesis of failing to settle cryptocurrency options, with $20.9 million of damages sought.
Founders of Gemini-Owned NFT Marketplace Nifty Exchange Are Leaving the Company
The move comes amid wider problems and recent layoffs at Gemini.
Genesis Seeks $20.9M From ‘Bitcoin Jesus’ Over Crypto Options Trades That Weren’t Settled
The court action seeks damages from Bitcoin Cash backer Roger Ver related to the alleged failure to settle cryptocurrency options transactions that expired on Dec. 30, 2022.
