#genesis

4:45pm, 5th September, 2023

US-based Genesis Global Trading will eliminate its crypto spot trading service

The company, an affiliate of Barry Silbert’s Digital Currency Group, has been providing crypto spot trading since 2013. Its closure is “for business reasons.”

Genesis lenders call DCG agreement ‘wholly insufficient’

8:59am, 30th August, 2023

Crypto Wiki

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.

DCG agrees deal with Genesis that would see recoveries of up to 90%

3:38am, 29th August, 2023

Crypto Wiki

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.

FTX seeks $175M settlement with Genesis entities to resolve dispute

9:21am, 17th August, 2023

Crypto Wiki

FTX seeks $175M settlement with Genesis entities to resolve dispute

However, FTX creditors express discontent and urge the Official Committee of Unsecured Creditors of FTX (UCC) to contest the agreement.

New York AG probes transactions at Genesis, ties with Barry Silbert: Report

1:00pm, 5th August, 2023

Crypto Wiki

New York AG probes transactions at Genesis, ties with Barry Silbert: Report

Digital Currency Group (DCG) is reportedly under investigation in New York for financial transactions involving its subsidiary, Genesis Global Capital.

Genesis Digital Assets opens three new facilities in South Carolina in US expansion

12:56pm, 1st August, 2023

Crypto Wiki

Genesis Digital Assets opens three new facilities in South Carolina in US expansion

The company has 400 MW of capacity spread across three continents, but most of its power is concentrated in Texas.

Gemini files lawsuit against Digital Currency Group and Barry Silbert over Genesis and Earn program

10:39am, 7th July, 2023

Crypto Wiki

Gemini files lawsuit against Digital Currency Group and Barry Silbert over Genesis and Earn program

Gemini co-founder Cameron Winklevoss alleged Barry Silbert committed fraud by knowing Genesis was “massively insolvent” when attempting to continue the Earn program.

FTX debtors object Genesis' 'critical' claim estimate of '$0.00'

1:50am, 4th June, 2023

Crypto Wiki

FTX debtors object Genesis' 'critical' claim estimate of '$0.00'

The FTX debtors alleged that the claim was filed "without any advance notice," and they were not invited to participate in the mediation.

FTX seeks to claw back $4B from Genesis in a battle of the bankrupt

7:08pm, 3rd May, 2023

Crypto Wiki

FTX seeks to claw back $4B from Genesis in a battle of the bankrupt

The bankrupt crypto exchange wants to recoup billions from the bankrupt crypto lender claiming it was “instrumental” to FTX’s “fraudulent” business model.