Bankrupt crypto lender Genesis has filed a motion to extend the exclusivity period for its reorganization plan by 100 days. Why Genesis sought an extension In a May 19 court filing to the United States Bankruptcy Court for the Southern District of New York, the bankrupt lender, said it needed the extension “to achieve a…
Multiple Genesis Capital creditors walk away from agreement – DCG responds
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Genesis creditors file to restrict bankrupt’s firm intercompany transactions
Latest Report The SEC vs. Paxos: A deep dive into the implications of the lawsuit and its effects on stablecoins The SEC’s notice to Paxos to stop minting BUSD could have longstanding implications on the crypto market. CryptoSlate’s new report explores the recent and potential consequences of enforcement action against Paxos. Andjela Radmilac · 3…
Genesis subsidiary sues ‘Bitcoin Jesus’ for $20.86M
Genesis Broker, Exchange, Lending Company in North America Genesis is an institutional digital asset markets and a full-service digital currency prime brokerage providing a single point of access for select qualified individuals and global institutional investors. More about Genesis Info Twitter LinkedIn
ByBit CEO clarifies Mirana exposure to bankrupt Genesis
Genesis Broker, Exchange, Lending Company in North America Genesis is an institutional digital asset markets and a full-service digital currency prime brokerage providing a single point of access for select qualified individuals and global institutional investors. More about Genesis Info Twitter LinkedIn
Gemini co-founder threatens lawsuit against DCG, Barry Silbert
Gemini Exchange Company in North America Gemini is a regulated digital asset exchange and custodian that allows customers to buy, sell, store, and stake digital assets in a regulated, secure, and compliant manner. More about Gemini Info Twitter LinkedIn
US lawmaker Tom Emmer says SEC is ‘protecting’ no one
U.S. lawmaker Tom Emmer said SEC chairman Gary Gensler is “protecting” no one with his “regulation through enforcement” strategy. Instead, Emmer believes that the policy hurts “everyday Americans.” Emmer added: “When can we expect proactive guidance instead of leaving the industry to interpret the rules of the road through your after-the-fact enforcement actions?” The lawmaker…
Bitvavo rejects DCG’s 70% repayment proposal
Crypto exchange Bitvavo rejected Digital Currency Group’s (DCG) proposal to repay 70% of its debt because the embattled firm has sufficient funds to make full repayment, according to a Jan. 10 statement. Bitvavo maintained that it was confident that a solution could be found to satisfy all the concerned parties. According to the Netherlands-based company,…
Genesis sacks 30% of workers
Beleaguered crypto lender Genesis sacked 30% of its workers on Jan. 5, The Wall Street Journal reported citing people familiar with the matter. Genesis previously laid off 20% of its workforce in August 2022, citing market conditions. In a Jan. 4 statement, the embattled lender’s CEO Derar Islim gave hints about this new development. Islim wrote…
Genesis pleads for more time to sort ‘complex’ financial situation
Genesis interim CEO Derar Islim pleaded for more time to sort the financial situation of its lending arm, according to a Jan. 4 statement. Islim said the firm was currently involved in “a very complex process that will take some additional time.” He added that the firm remains committed to solving its current situation. Islim…