Gemini, a New-York based centralized cryptocurrency exchange, is planning to lay off 10% of its workforce; the news came into the limelight when The Information, a San Francisco-based media outlet, re...
Tag: Bankruptcy
Genesis eyes fast resolution to creditor disputes and bankruptcy exit in May
A lawyer for bankrupt crypto lending firm Genesis is optimistic the firm can resolve its creditor disputes as early as this week and the company could come out of Chapter 11 proceedings by late May. G...
Genesis Could Be Out of Bankruptcy in May 2023: Quickly Resolving Creditor Disputes
Genesis filed for Chapter 11, Bankruptcy, on January 19, 2023. Citing FTX collapse, they had halted withdrawals since November 2022. With assets in hand, they are positive about solving the creditor ...
Celsius to store 20,000 mining machines, remains optimistic about new hosting sites
The mining arm of bankrupt lending firm Celsius will temporarily store 20,000 rigs it’s retrieving from Core Scientific and is optimistic about finding new hosting locations. The company h...
Genesis’ attorney hopes to departure from bankruptcy in May
A lawyer representing Genesis is hopeful of settling problems with creditors by the end of the week. The company may emerge from bankruptcy procedures in around four months. According to a report by R...
BlockFi exec argues bankruptcy court should approve bonuses to retain talent
Megan Crowell, the chief people officer at crypto lending firm BlockFi, has petitioned a court to allow bonuses for “key employees” amid Chapter 11 bankruptcy proceedings. In a Jan. 23 declaration for...
Genesis Bankruptcy Case Scheduled for First Hearing on January 23rd
The bankruptcy hearing for embattled crypto lender Genesis commences today at a New York Southern District court. According to court filings, the first hearing for the bankruptcy case of crypto lende...
Party City Files For Chapter 11 Bankruptcy
Getty Images Key takeaways In an attempt to save the business, Party City has filed for chapter 11 bankruptcy. When the pandemic closed down in-person celebrations, the company struggled financially s...
Bankman-Fried Said He Had $100,000 Left. Government Seized $700 Million.
Federal prosecutors continue to build their case against Sam Bankman-Fried. The former crypto king on Nov, 11 had to file for bankruptcy after two of his star firms, FTX and Alameda Research, were un...
Crypto Bankruptcy was Big Last Year, but was There a Positive Note to It All?
2022 was a year wrought with bankruptcy and the exiting of several crypto companies, but many analysts do not feel this was necessarily a bad thing. Bankruptcy was Big in 2022, but Things Might’ve Bee...
Bed Bath & Beyond Meme Stock Bounce Flops Toward Bankruptcy
Chapter 11 appears increasingly likely for Bed Bath & Beyond despite its latest meme stock bounce. … [+] (Photo by Joe Raedle/Getty Images) Getty Images Days after Bed Bath & Beyond’sBBB...
Genesis in Chapter 11 Bankruptcy Protection
Rumors about Genesis came to an official confirmation as the firm filed for chapter 11 bankruptcy protection on Tuesday. It appears that FTX contagion won’t stop, and Genesis bites the dust. Crypto le...
Bitcoin soars past $23,000 to highest since last September
Bitcoin BTCUSD, +0.59% soared past $23,000 on Saturday, its highest level since September, as the crypto currency market recovered some ground in early 2023. The rally came despite news on Thursday th...
Stellar Foundation Scratched by Genesis Bankruptcy with $13 M Claim
The Stellar Development Foundation, a nonprofit organization founded in 2014 to push development on the Stellar blockchain, was registered with one of the largest creditors of Genesis, the crypto lend...
Genesis bankruptcy case scheduled for first hearing
The first hearing in Genesis Capital’s bankruptcy case will be held on January 23 at 2:00 pm (EST), according to court filings. Judge Sean H. Lane of the United States Bankruptcy Court for the S...
Genesis’ crypto lending division declares bankruptcy in the U.S.
Join Our Telegram channel to stay up to date on breaking news coverage After being knocked out of the market along with companies like exchange FTX and lender BlockFi, the lending division of the cryp...
Fairfax County, Virginia, Pension Funds Exposed to Genesis Bankruptcy
The Fairfax County Police Officers Retirement System, which is led by Chief Investment Officer Katherine Molnar and which was managing about $1.8 billion as of last summer, has invested in the crypto ...
Genesis Declares Bankruptcy And More
After months of struggling to stay afloat, Genesis Global has finally filed for Chapter 11 bankruptcy. On the other hand, the new year seems to be heralding a new crypto bull market. Let’s find out mo...
Genesis’ Crypto Trading Arm Is Moving Money Around, a Sign of Normalcy Amid Sibling’s Bankruptcy
Even as Genesis’ crypto-lending business entered bankruptcy court protection, the company’s trading arm, which remained out of Chapter 11, is still moving money around on blockchains – a sign the busi...
Gemini’s Cameron Winklevoss Threatens Legal Action Against DCG CEO After Genesis Bankruptcy Filing
But things went south in November when Genesis suspended redemptions and new loan originations after making a series of bad loans to crypto firms Three Arrows Capital and FTX, both of which later woun...
Genesis files for bankruptcy, FTX explores a reboot, and Bitzlato…
Top Stories This Week Crypto lender Genesis files for Chapter 11 bankruptcy FTX contagions continue to spread through the crypto industry, with Genesis Capital filing for bankruptcy protection in New ...
Genesis’ crypto lending unit filed for bankruptcy
Genesis, a crypto lending firm filed for bankruptcy protection on January 19. The company has owed almost $3.4 billion to creditors after being pitched by a market flight as well as FTX along with Blo...
Cameron Winklevoss Threatens Lawsuit after Genesis Filed for Bankruptcy
Winklevoss said this move will afford the firm to recoup its funds as the Barry Silbert-led DCG has continued to refuse to offer its creditors a fair deal. Cameron Winklevoss, the co-founder and Chie...
Genesis’ bankruptcy filing was decided by independent committee, according to DCG
In a Jan. 20 statement, Genesis Capital’s parent company, Digital Currency Group (DCG), denied involvement in Genesis’ bankruptcy filing. According to DCG, a special committee of independent directors...
Genesis Files for Bankruptcy – The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News
Digital Currency Group’s (DCG) subsidiary Genesis Global, filed for bankruptcy on January 19, 2023. The crypto lender was struggling in the market after the collapse of FTX. The crypto lending firm wa...
Creditors Take Issue With Genesis’ Sloppy Bankruptcy Filing
Two of Genesis’ creditors have taken issue with the crypto lender’s “sloppy” bankruptcy filing. Mirana and Cumberland have accused the crypto lender of including inaccurate and misleading information ...
Bitcoin (BTC) Reacts to Genesis’s Bankruptcy Filing
Alex Dovbnya Genesis Global has now filed for Chapter 11 bankruptcy protection after a series of tumultuous events have caused severe liquidity issues for the troubled crypto brokerage Genesis Global ...
Will Genesis Bankruptcy Spell Disaster for Grayscale’s GBTC and DCG?
The cryptocurrency lending platform, Genesis Global Capital, which is owned and operated by Digital Currency Group, has filed for bankruptcy. This raises concerns about the potential impact on other ...
Reactions to Genesis Global Trading’s Bankruptcy
Members of the cryptocurrency community expressed their opinions on the situation on social media shortly after the crypto lender Genesis Global Trading filed for protection under Chapter 11 of the Un...
The Weekend Shift: Bitcoin, Bankruptcy, Bored Apes
Welcome to the 102nd Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write a...