Genesis lenders call DCG agreement ‘wholly insufficient’
The agreement in-principle reached by DCG and creditors also said that the Ad Hoc Group and Gemini did not support the deal.
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DCG agrees deal with Genesis that would see recoveries of up to 90%
The estimated U.S. dollar equivalent recoveries could amount to 70–90% for Genesis creditors, should the amended plan be carried out.
Winklevoss slams DCG's Silbert — Not even SBF was 'capable of such delusion'
In an open letter, Cameron Winklevoss slammed DCG's Barry Silbert for allegedly playing the victim card while owing $1.2 billion to Gemini’s 232,000 Earn customers.
DCG asks judge to consolidate class-action suits to avoid conflicting decisions
Digital Currency Group CEO Barry Silbert argued in a letter to Judge Stefan Underhill that both cases share the same facts, legal issues and near-identical class definitions.
Genesis settlement disrupted by new creditor demands, DCG says
Under the initial settlement plan, Genesis creditors were expected to receive 80% recovery of funds lost due to the bankruptcy.
DCG losses top $1B on the back of 3AC collapse in 2022
The crypto conglomerate reported that falling crypto prices and the fallout from Three Arrows Capital’s loan default to Genesis affected its results.
Genesis entity going up for sale as DCG makes creditor pact
Digital Currency Group (DCG) plans to hand Genesis its stake in the Genesis Global Trading business entity which will then be sold, pending court approval.
DCG companies laid off over 500 employees as contagion spreads
Cryptocurrency exchange Luno fired 330 employees on Jan. 25, joining other DCG companies in cutting headcount.
Genesis creditors file securities lawsuit against Barry Silbert and DCG
Amid Genesis going through its first bankruptcy hearings, a group of creditors have slapped the firm with a new class action lawsuit.
Genesis' bankruptcy filing was decided by independent committee according to DCG
A special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection.