Tag: dcg

Jan 27 2023

Why Grayscale Is Suing the SEC Over Its Denial of a Bitcoin ETF – Ep. 448

Michael Sonnenshein, CEO of Grayscale Investments, gives an overview of his firm’s case against the SEC, which has denied requests to turn Grayscale’s bitcoin trust into an exchange-traded fund (ETF). With oral arguments kicking off March 7, Sonnenshein lays out what a worst-case “tender offer” would entail and whether DCG CEO Barry Silbert has any say over GBTC’s fate. Show highlights: why...

Jan 25 2023

DCG’s crypto exchange, Luno axes 35% of its staff

Jan 25 2023 Published at Coinscreed under tags  crypto exchange news dcg luno

The Digital Currency Group (DCG), which owns the London-based crypto exchange Luno, is the latest to exhibit signs of market crisis contagion. Another indication of the market contagion that started with the Genesis bankruptcy was the announcement of layoffs by a crypto exchange that is a part of the Digital Currency Group (DCG). The decision […] The post...

Just In: DCG Owned Crypto Exchange Luno Lays Off 35% Of Employees

Jan 25 2023 Published at Coingape under tags  crypto market dcg news united states

Luno Layoff News: In yet another sign of continuing market contagion that began with the Genesis bankruptcy, a crypto exchange belonging to the Digital...

Jan 24 2023

Not Just FTX: One Skeptic’s Take on Why Crypto Is a Scam – Ep. 446

James Block, crypto skeptic and author of the Dirty Bubble Media newsletter, rose to prominence with a timely post predicting FTX’s insolvency. The blogger, a doctor by day, explains why he sees crypto as an unregulated morass of would-be securities and outright “Ponzi schemes.” From an early interest in Tether to connecting the dots on Celsius, Block explains why he does what he...

Jan 21 2023

CoinDesk Might Have Cardano Founder Charles Hoskinson As Potential Buyer

Charles Hoskinson, co-founder of the blockchain network Cardano, is interested in purchasing CoinDesk, DCG's media arm, despite the company's current difficulties. According to Yahoo! Finance, Hoskinson’s reasoning as to why he has shown strong interest in buying up DCG’s media unit is that he believes...

Jan 20 2023

Crypto Lender Genesis Files For Chapter 11 Bankruptcy

Jan 20 2023 Published at Bitcoin Magazine under tags  bankruptcy business dcg genesis lending

The embattled crypto lender has filed a slew of voluntary bankruptcy notices in order to restructure itself.Genesis’s two lending subsidiaries, Genesis Global Capital and Genesis Asia Pacific, have filed for Chapter 11 bankruptcy. According to the announcement, the firm aims to enact “a global resolution to maximize value for all clients...

Genesis Transfers $150M To Crypto Exchanges and New Wallet

What happened: Embattled crypto lender Genesis has filed for Chapter 11 bankruptcy protection. Now, the firm has made a series of transfers to crypto exchanges, suggesting that it could be looking to liquidate its assets....

Genesis Global files for bankruptcy

Following the demise of the cryptocurrency exchange FTX, other businesses in the crypto space have also filed for Chapter 11 bankruptcy protection with the most recent being crypto lender Genesis global. Since the demise of the cryptocurrency exchange FTX, Genesis has seen significant withdrawals and significant liquidity problems. Genesis also has $175 million of its […] The post...

Jan 19 2023

Is Genesis’s Prepackaged Bankruptcy The Ultimate Sacrifice?

What Happened: Embattled crypto lender Genesis is negotiating with creditors on the terms of its Chapter 11 bankruptcy filing, sources told The Block on Wednesday....

CoinDesk reportedly considers sale option

Jan 19 2023 Published at Coinscreed under tags  coindesk dcg media news sales

Coindesk media and publishing business is apparently considering a possible sale, as its parent firm Digital Currency Group (DCG) seeks to bolster its financial sheet. DCG has also reportedly received offers for CoinDesk in recent weeks. The Wall Street Journal reports that CoinDesk has enlisted the assistance of investment bankers from the financial consultancy company […] The post...

Jan 17 2023

The DCG Rumor Mill as It Stands

Whispers about Digital Currency Group’s troubles have continued to make rounds on Twitter this week. While it’s hard to separate fact from fiction, it is worth considering the implications of three possible scenarios. Scenario #1: Genesis gave clients “phony financial statements”...

Jan 14 2023

The Chopping Block: Why Gemini Users Are Mad at Genesis and DCG – Ep. 443

Welcome to “The Chopping Block!” – where crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news. Show topics: Haseeb’s TL;DR of the ongoing situation between DCG, Genesis and Gemini whether DCG committed fraud because of a misrepresentation of its financials why DCG did Genesis a favor by absorbing the losses from exposure to Three...

Jan 13 2023

Potential Paths Forward For The Grayscale Bitcoin Trust

An interesting saga is developing for Digital Currency Group and its Grayscale Bitcoin Trust with accusations of fraud coming from the co-founder of Gemini.The below is an excerpt from a recent edition of Bitcoin Magazine PRO, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox,...

Jan 10 2023

Gemini’s Winklevoss Alleges DCG, Genesis Defrauded His Exchange And 340,000 Users

Cameron Winklevoss, president and co-founder of Gemini, has written an open letter demanding Barry Silbert’s removal as CEO of Digital Currency Group.The Co-Founder of Gemini, Cameron Winklevoss, has released an extensive letter alleging that Genesis and its parent company, Digital Currency Group (DCG), defrauded Gemini and more than...

Jan 03 2023

This is BIG: DCG and Genesis the next FTX and Alameda?

In collaborative efforts with DCG's crypto company Genesis, Gemini provides a crypto lending product called Earn. After the bankruptcy of major cryptocurrency exchange FTX in November, Genesis stopped customer withdrawals. Cameron Winklevoss, the founder of cryptocurrency exchange Gemini, has accused Digital Currency Group (DCG) CEO Barry Silbert of "bad faith stall tactics" and demanded that he dedicate to settling...

Dec 17 2022

DCG Bankruptcy Imminent? Here’s Proof Of Asset Transactions

Dec 17 2022 Published at Coingape under tags  crypto market dcg news united states

DCG Bankruptcy News: With the Digital Currency Group (DCG) experiencing huge liquidation in the last 24 hours, speculation is rife about the stability of the platform. The crypto market is still not out of danger from the FTX related contagion. Following the bankruptcy of FTX, the market is still not sure about the stability of The post DCG Bankruptcy Imminent? Here's Proof Of...

Crypto Selloff: Why Grayscale May Be Next In Line After FTX Crash?

Dec 17 2022 Published at Coingape under tags  dcg genesis grayscale news

Will Clemente, co-founder of crypto analysis firm Reflexivity Research, in a...

Dec 12 2022

Alameda-Genesis Relationship Risks DCG Bankruptcy, Claims Messari Founder

Dec 12 2022 Published at Coingape under tags  alameda research dcg ftx genesis news

Crypto research firm Messari's founder Ryan Selkis on Monday said Genesis and Alameda had bad loans and intertwined crypto borrower-lender...

Dec 03 2022

Breaking: Gemini Exchange Owed Nearly $1 Billion By Genesis, DCG

Dec 03 2022 Published at Coingape under tags  dcg ftx gemini genesis news

Gemini Genesis News: Crypto exchange Gemini appears to be the latest victim of the contagion from FTX collapse, followed by adverse effects for BlockFi, Genesis and the...

The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He? – Ep. 428

Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news. Show topics: highlights of Sam Bankman-Fried's interview with the New York Times whether SBF knew what was going on in his companies, and how that impacts potential prosecution why Genesis and DCG are in financial trouble financial whether...

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