Tag: genesis

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 26 2023

Digital Surge Survives The Crash Of FTX Crypto Exchange

The collapse of the crypto exchange FTX last year shook the industry. The exchange was among the top in the industry, with many investors and firms as users. However, following FTX's filing for bankruptcy, the investors lost access to their funds on the platform. This outcome caused a contagion among several companies exposed to the distressed exchange. Digital Surge, an Australian crypto exchange,...

Jan 25 2023

“Bitcoin Jesus” Roger Ver Owes Genesis $20M

Jan 25 2023 Published at Crypto Briefing under tags  bitcoin jesus genesis news roger ver

Roger Ver apparently owes Genesis $20 million. He was previously accused by crypto exchange CoinFLEX of defaulting on a $47 million obligation. Bitcoin Jesus Loves Leverage 2022 must have been...

Genesis sues “Bitcoin Jesus” for $20M over unsettled crypto options

A division of the cryptocurrency lending company Genesis has filed a lawsuit against Roger Ver commonly known as “Bitcoin Jesus,” for unsettled crypto options worth $20.8 million. On January 23, GGC International, a component of the insolvent cryptocurrency lender, filed a lawsuit against Ver in the New York State Supreme Court, alleging that the proponent […] The post...

Genesis subsidiary sues ‘Bitcoin Jesus’ for $20.86M

Jan 25 2023 Published at CryptoSlate under tags  bankruptcy genesis legal

A subsidiary of bankrupt crypto lender Genesis — GGC International Limited — filed a $20.86 million claim against Bitcoin Cash (BCH) proponent Roger Ver, according to a Jan. 23 court filing. The embattled firm alleged that Ver failed to settle cryptocurrency options trades that expired on Dec. 30, 2022. The bankrupt company also wants the court to award it the fees it expended...

Jan 24 2023

Jan 23 2023

Crypto Exchange Gemini Cuts 10% Of Its Workforce

Despite the ongoing relief rally in the crypto market, negative news seems to be never-ending. The latest to make it to the headline today is Gemini, as the crypto exchange company has reportedly cut down another 10% of its global staff according to a recent report published by The information...

What to Watch in Crypto This Week

Here are some of the most important things to watch out for this week: 1\. Genesis’s First Bankruptcy Hearing Digital Currency Group subsidiary Genesis has filed for Chapter 11 bankruptcy protection and is scheduled to have its first...

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...

Crypto Lender Genesis Files for Bankruptcy

Digital Currency Group subsidiary Genesis Global Capital has filed for bankruptcy protection. It owes over $3.5 billion to its top 50 creditors $3.5 Billion in Liabilities After months of uncertainty,...

Genesis Bankruptcy Filing Sparks Conspiracy Theory In Crypto Community

Over recent months, the number of bankruptcy-filing companies in the industry has increased more than usual. The latest Genesis bankruptcy filing raised even more concerns and conspiracy theories among crypto community members, with some believing all of the now-bankrupt crypto firms are somehow potentially connected. Though crypto lender...

ByBit CEO clarifies Mirana exposure to bankrupt Genesis

Jan 20 2023 Published at CryptoSlate under tags  bybit genesis lending mirana

ByBit CEO Ben Zhou said his exchange's exposure to bankrupt crypto lender Genesis was restricted to its investment arm Mirana. Genesis Global's chapter 11 filing showed that Mirana was one of its top five creditors — the lender owes the investment firm $151.5 million. Zhou...

Breaking: Genesis Says Targeting Bankruptcy Exit By May 19

Jan 20 2023 Published at Coingape under tags  crypto market genesis news united states

Genesis Bankruptcy News: Crypto lender Genesis Global is eyeing to achieve a resolution from the bankruptcy process in the next four months. In its bankruptcy announcement, the company...

Genesis Files For Bankruptcy, Plans on Using Its $150 Million in Cash on Hand to Finance ‘Restructuring Process’

Genesis, a cryptocurrency lending and trading platform, filed for Chapter 11 bankruptcy on Thursday. According to a press release, the company is planning to restructure its business to “maximize value for all clients and stakeholders.”

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 Trading moves crypto worth millions amid bankruptcy

In the wake of its Chapter 11 bankruptcy protection filing, Genesis Trading has transferred crypto assets including ETH, USDT, and USDC worth millions to other crypto exchanges. PeckShieldAlert, a blockchain security platform, revealed several million in crypto assets moved by Genesis Trading in a tweet on January 20. From its OTC Desk, Genesis Trading sent […] The post...

Gemini co-founder threatens lawsuit against DCG, Barry Silbert

Gemini co-founder Cameron Winklevoss threatened a lawsuit against crypto conglomerate Digital Currency Group (DCG) and its CEO Barry Silbert if they failed to make a "fair offer" to creditors like Gemini Earn users. Gemini is prepared to take "direct legal action against Barry, DCG, and others who share responsibility for the fraud that has caused harm to the 340,000+ Earn users and others...

BREAKING NEWS: Crypto Lender Genesis Files For Chapter 11 Bankruptcy As Crisis Deepens

Genesis Global Holdco, the parent company of embattled cryptocurrency lender Genesis Global Capital, has filed for Chapter 11 bankruptcy protection, becoming the latest firm to cave in to pressure in the wake of FTX's precipitous decline. Thursday, the company filed for bankruptcy protection in the Southern District of New York, according to court filings cited by numerous...

Genesis’ House Of Cards: Projects Under Threat Amid Genesis Insolvency

Jan 20 2023 Published at Coingape under tags  genesis genesis global news

Genesis Contagion: Genesis Global Holdco LLC, a digital asset lender made it to the list of firms filing for bankruptcy after the horrible...

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