Legal actions linked to the collapse of Genesis have cast uncertainty over Grayscale’s $33B IPO, as Barry Silbert and DCG face renewed litigation in Delaware and bankruptcy courts. The post Genesis Lawsuit Threatens to Derail Grayscale’s Landmark $33B IPO appeared first on Cryptonews…
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FTX Trust has sued Genesis, alleging Fraudulent transfers used misappropriated funds for 2021–2022 share purchases. The bankruptcy estate has reported $6.2B returned to creditors and has scheduled another distribution for Sept. 30. The post FTX Trust Sues Genesis Digital for $1.15B Clawback Over Alleged Fraudulent Transfers appeared first on Cryptonews…
FTX Trust Sues Genesis Digital for $1.15B Clawback Over Alleged Fraudulent Transfers Read More »
Digital Currency Group countersues bankrupt subsidiary Genesis for $1.1B demanding promissory note relief and $105M overpayment recovery as Genesis pursues $3.1B damages following Three Arrows Capital collapse. The post DCG Countersues Genesis for $1.1B After Subsidiary Claims $3.1B Damages appeared first on Cryptonews…
DCG Countersues Genesis for $1.1B After Subsidiary Claims $3.1B Damages Read More »
Last updated: April 6, 2024 11:00 EDT | 2 min read Bankrupt crypto lending firm Genesis has converted approximately 36 million shares of Grayscale Bitcoin Trust (GBTC) into Bitcoin as part of preparations to settle its debts with creditors. According to a recent report by Bloomberg, the company liquidated the GBTC shares on April 2, at
Genesis Converts GBTC Shares into Bitcoin: Acquires 32,000 BTC in Major Move Read More »
Genesis Global Capital has formally requested authorization from the U.S. Bankruptcy Court for the Southern District of New York to proceed with an extensive sale of its holdings. The crypto lender, currently undergoing bankruptcy proceedings, submitted the new motion seeking approval to sell trust assets valued at approximately $1.6 billion. As per a court filing
Genesis Global Capital Seeks Approval for $1.4B GBTC Liquidation in Bankruptcy Court Read More »
Digital Currency Group (DCG) subsidiary – Genesis Global Trading – reached a settlement with the New York Department of Financial Services (NYDFS) on January 12th. Genesis will pay an $8 million penalty after an agency’s investigation found significant failings in anti-money laundering and cybersecurity programs. NYDFS said the compliance failures left the company vulnerable to
Genesis Global Trading Settles with NYDFS for $8 Million Over Compliance Failings Read More »
Last updated: January 13, 2024 07:08 EST | 3 min read Genesis Global Source: AdobeStock / TimonGenesis Global Trading, a subsidiary of Digital Currency Group, has agreed to pay an $8 million penalty to the New York State Department of Financial Services (NYDFS) after settling allegations of compliance failures. The NYDFS accused the company of
Genesis Global Capital, a cryptocurrency lender, has filed a lawsuit against its former business partner, Gemini Trust, seeking the recovery of over $689 million. The court filing, made late on Tuesday, alleges that Gemini engaged in ‘preferential transfers’ totaling approximately $689,302,000 from Genesis. Genesis and Gemini Clash in Legal Battle The lawsuit contends that these
Genesis Files $689 Million Lawsuit Against Gemini to Recover ‘Preferential Transfers’ Read More »
The crypto industry needs a lot more work before it can go truly global. There are some positive steps that it is taking, and one of the major requirements is the integration of the pivotal realm of Decentralized Finance (DeFi) with traditional financial markets, which could lead to a substantial flow of capital in both
The crypto market is known for its volatile price action that turns part-time investors into millionaires over the course of a year or two. But a strong, sustainable pump has been missing from the market for a while now. Investors are beginning to explore more means of earning high returns from the market. XETA Genesis
XETA Genesis Promises Amplified Returns: A Closer Look at the DeFi Magic Read More »
