Genesis creditors are suing Digital Currency Group (DCG) and its CEO Barry Silbert for alleged violations of federal securities laws, according to a press release on Jan. 23. The class action lawsuit ...
Tag: DCG
Gemini lays off 10% of its staff amid Genesis and DCG lending crisis
Crypto exchange Gemini laid off 10% of its staff, The Information reported, citing a message that was sent to employees on Monday. Poor macroeconomic conditions and “unprecedented fraud...
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’ 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...
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 ...
DCG responds to Genesis bankruptcy; Bitcoin jumps 4% as contagion fears lessen
Digital Currency Group, the parent company of both Genesis and Grayscale, released a statement on Jan. 20 commenting on the news that Genesis had filed for Chapter 11 bankruptcy. Following the stateme...
DCG denies involvement in Genesis’ bankruptcy – Cryptopolitan
In a statement that was made public on January 20, the parent firm of Genesis Global Capital, Digital Currency Group (DCG), refuted claims that it was involved in the bankruptcy petition that Genesis ...
Genesis files for chapter 11 bankruptcy as Winklevii threaten DCG lawsuit
Late Thursday night, Genesis Global announced it voluntarily filed for chapter 11 bankruptcy, along with its crypto lending arm Genesis Global Capital and lending unit Genesis Asia Pacific. In a press...
Coindesk May Be Sold as Parent Company DCG Struggles
According to recent reports, the cryptocurrency news website CoinDesk is mulling over the possibility of being sold as its parent company, Digital Currency Group (DCG), wants to improve its financial ...
Winklevoss Threaten to Sue DCG as Genesis Files for Bankruptcy – Trustnodes
Cameron Winklevoss, the CEO of Gemini Earn which held $950 million in Genesis, threatened to sue the Digital Currency Group (DCG) after its subsidiary filed for bankruptcy. “The decision to put Genesi...
Digital Currency Group’s Genesis Global files for bankruptcy protection
Genesis Global Holdco filed for bankruptcy protection late Thursday in New York federal district court. The news comes after the firm failed in a bid to raise cash for its troubled lending unit and cu...
DCG Owned Media House CoinDesk Reportedly Eyeing Potential Sale
6 hours ago | 2 mins read Bitcoin News The media house has retained the services of the Lazard Group as financial consultants. Digital Currency Group (DCG) has been afflicted by the FTX collapse’s con...
DCG Woes Deepen With Potential Sale of CoinDesk
Things are going from bad to worse for Digital Currency Group (DCG). According to reports, it may be forced to sell its crypto publication CoinDesk. On Jan. 18, CNBC reported that CoinDesk had engaged...
CoinDesk engages Lazard to explore sale as DCG crisis grows
Barry Silbert, Founder and CEO, Digital Currency Group Anjali Sundaram | CNBC Crypto trade publication CoinDesk is exploring a potential sale, hiring advisors at Lazard to weigh a move that would rem...
DCG Suspends Quarterly Dividends Amidst Genesis Crisis: Report
Barry Silbert’s crypto conglomerate, Digital Currency Group (DCG), revealed halting quarterly dividends until further notice. In an email to shareholders, as viewed by Bloomberg, the crypto investment...
Crypto Conglomerate DCG Halts Quarterly Dividend Payments
Cryptocurrency giant, Digital Currency Group (DCG) has halted its quarterly dividend payments in an effort to conserve cash and improve its balance sheet. DCG, parent company to the struggling cryptoc...
Digital Currency Group (DCG) Suspends Dividends To Save Cash
The Digital Currency Group is halting dividend payments in a bid to maintain liquidity. Distressed subsidiaries, including Genesis, have prompted DCG to make this decision. The company’s CEO has been ...
DCG suspends dividend payments to preserve liquidity
The cryptocurrency company Digital Currency Group has notified its shareholders that it will suspend dividend payments temporarily. In a letter addressed to its investors, DCG emphasizes the need to c...
Fraud, crime, and the Winklevii force DCG to freeze dividend payouts
Barry Silbert’s Digital Currency Group (DCG) has suspended shareholder payouts as it struggles to ride out a “wave of unprecedented fraud and criminal behavior” plaguing the industry. As reported by C...
Crypto giant Digital Currency Group halts dividend payments: Coindesk
Crypto giant Digital Currency Group (DCG) has suspended its quarterly dividends, according to a shareholder letter seen by Coindesk. “In response to the current market environment, DCG has...
former FTX boss maintains innocence, Nexo’s woes, DCG and Gemini face-off
The last week in crypto was mixed with fresh updates and ongoing controversies. A new scandal emerged as new allegations were leveled against the crypto lender, Nexo, with reports accusing the regulat...
Investor Justin Sun Wants To Pump $1 Billion Of Own Funds Into DCG
Join Our Telegram channel to stay up to date on breaking news coverage Chinese crypto entrepreneur and founder of Tron, Justin Sun, said he would spend $1 billion of his own money on buying assets fro...
DCG May Sell Assets to Help Genesis
According to the Financial Times, Digital Currency Group (DCG) might sell assets from its venture portfolio to raise funds to help one of its subsidiaries, Genesis, make up for a $3 Billion shortfall....
Osprey Vies for Control of Grayscale’s Bitcoin Trust; Tron’s Justin Sun Offers to Invest Up to $1B on DCG Assets – Bitcoin News
Following charges by the U.S. Securities and Exchange Commission against the crypto exchange Gemini and the digital currency lender Genesis, Tron founder Justin Sun told the press that he may be able ...
Tron Founder Justin Sun willing to invest $1 Billion in DCG assets
Digital Currency Group (DCG), the parent company of Genesis, which is facing some financial difficulties, is selling off its investments. Chinese cryptocurrency mogul Justin Sun has pledged to invest ...
Justin Sun to Spend $1B on DCG Assets
Tron founder Justin Sun is reportedly planning to spend as much as $1 billion to acquire assets of Genesis’ parent company, Digital Currency Group (DCG), Reuters reported. According to the report, the...
Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets
Digital Currency Group (DCG), the parent firm of struggling cryptocurrency lender Genesis, is liquidating some of its holdings. Tron founder and Chinese crypto entrepreneur Justin Sun is prepared to i...