Tag Archives: digital currency group

Crypto venture giant Digital Currency Group (DCG) has submitted a request to dismiss the lawsuit brought by New York Attorney General Letitia James against the company. According to the NYAG, Barry Silbert allegedly concealed losses at the company, thereby deceiving customers and investors. DCG’s founder and CEO, Barry Silbert, has also filed a motion to dismiss the accusations made by the Attorney General, deeming them as “a thin web of baseless innuendo, blatant...

FTX intends to initiate the sale, staking, and hedging of its crypto assets. For this purpose, the bankrupt crypto exchange is seeking to rope in Mike Novogratz and Galaxy Digital as its investment advisers as part of its ‘Digital Asset Management and Monetization Program.’ Implementing hedging strategies for Bitcoin and Ether will serve as a method to mitigate FTX’s exposure to unfavorable price fluctuations prior to their sale, according to the petition filed on August...

Following a lot of legal back-and-forth jabber, the Winklevoss Twins of the Gemini exchange in New York are moving forward with their lawsuit against Barry Silbert and his company Digital Currency Group. The Twins allege that the firm and its CEO Silbert engaged in massive fraud. The Winklevoss Twins Are Taking DCG to Court The problems stem from a program introduced by Gemini called Earn, which allowed users to loan their assets to Genesis, a division of the...

FTX’s sister trading firm, Alameda Research, will be allowed a general unsecured claim of $175 million against Genesis. The disgraced crypto exchange led by Sam Bankman-Fried previously sought to claw back $4 billion from DCG-owned lender Genesis which also filed for Chapter 11 bankruptcy. However, the latest court filing suggests that FTX and Genesis have reached an agreement, with the former having to settle for $3.825 billion less than originally demanded. The deal also...

CoinspeakerDigital Currency Group (DCG) Files Motion to Dismiss Lawsuit by Gemini The DCG filing notes that Silbert and the company "played an insignificant role in the Gemini Earn program", and Gemini's allegations of fraudulent behavior don't hold merit. Digital Currency Group (DCG) Files Motion to Dismiss Lawsuit by Gemini

FTX and Genesis have come to an agreement in principle to settle claims made by both parties in their ongoing legal brawl. Both bankrupt firms had previously claimed that the other party owed money. However, the legal counsel representing both wrote to bankruptcy Judge Sean Lane stating that they had agreed to a settlement. The exact settlement details remain undisclosed. The letter filed by their representatives at the United States Bankruptcy Court for the Southern District...

CoinDesk, ein Medienunternehmen, das sich auf Kryptowährungen konzentriert, steht kurz vor dem Abschluss eines Deals, um an eine Investorengruppe für 125 Millionen US-Dollar verkauft zu werden, wie von Axios bestätigt wurde. Die Nachricht wurde zuerst von der Wall Street Journal berichtet. Die Digital Currency Group: Vorreiter der Kryptowährungsrevolution Inmitten der aufregenden Ära der Kryptowährungen hat die Digital Currency Group (DCG) eine herausragende Rolle als Vorreiter und...

A judge ruled that FTX cannot join confidential mediation sessions between bankrupt crypto lender Genesis Global Holdco and its parent company Digital Currency Group (DCG). The ruling days after Genesis denied owing FTX anything. According to the Bloomberg report, US Bankruptcy Judge Sean Lane refused to open the settlement talks to the SBF-founded beleaguered crypto exchange, which claims that Genesis owes it $3.9 billion. In a ruling on June 5th, Lane stated, “There will be...

TradeBlock will officially begin the process of shutting down on May 31. Digital Currency Group (DCG), a New York-based venture capital firm that invests and provides services to crypto companies is winding down its TradeBlock subsidiary. According to a May 25 report from Bloomberg, the company, headed by Breanne Madigan, who previously worked at Goldman Sachs for 15 years, will begin the shutdown of the platform by the end of the month, specifically on May 31. TradeBlock, dedicated...

The Digital Currency Group (DCG) has been dealing with financial turmoil for several months now. Mostly, its financial issues are due to the liquidity crisis that one of its owned companies, Genesis, is facing. Internal and External Disputes Although the financial problems of the DCG Group primarily boil down to the predicament Genesis is in, some creditors – Gemini chief among them – believe the main culprit is the CEO of the DCG Group, Barry Silbert. According to the...