Tag Archives: digital currency group

The Digital Currency Group will revamp its way of mining Bitcoin amid larger funding problems due mostly in part to another subsidiary of theirs, Genesis, going bankrupt as a result of their dealings with FTX. Freeing Up Revenue Although Genesis reached an agreement with its creditors – the crypto trading platform’s parent company, DCG, being one of them – the former is marked for sell-off as soon as a buyer appears. The arrangement DCG and its subsidiary have entered was a...

The London-based cryptocurrency platform – Luno – announced that its long-reigning CEO Marcus Swanepoel will step down from his post to become an Executive Chairman. James Lanigan, who previously served as the firm’s Chief Operating Officer, will replace him. The new boss will aim to raise funds from new investors (other than DCG) and prepare Luno for eventual public listing. Marcus Swanepoel – a South African former banker who founded Luno ten years ago – praised his...

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The venture capital firm focused on cryptocurrencies – Digital Currency Group (DCG) – reportedly marked a loss of $1.1 billion last year.  Some of the primary reasons for the downfall were the collapse of the crypto market and the bankruptcy of its subsidiary – Genesis. DCG – a crypto conglomerate shuttered by scandals and the bear market – disclosed in a report (seen by CoinDesk) that the turbulent 2022 resulted in a $1.1 billion loss for the company. It pointed out Genesis’...

Bitvavo – a Dutch bitcoin exchange – has rejected a proposal from the Digital Currency Group (DGC) headed by Barry Silbert to repay approximately 70 percent of the debt owed to it by Genesis Trading. Bitvavo says the company has the money to pay back 100 percent of the debt and should do so without making executives wait any longer. Bitvavo Says “No Way” to the DCG Not long ago, Bitvavo announced it had just shy of $300 million locked up in Genesis. The proposal to pay...

Early Bitcoin adopter and executive chair of Bitcoin.com, Roger Ver, said he has “sufficient funds” to pay Genesis Global after being hit by a lawsuit by the now-bankrupt crypto broker’s unit – GGC International. The Bitcoin Cash proponent noted that he is happy to pay the amount he owes but pointed out that the agreement requires Genesis to remain solvent. In a new Reddit post, Ver claimed that Genesis failed to provide him assurances about its finances. The Digital Currency...

The London-based cryptocurrency platform – Luno – will reportedly trim the size of its team by over 330 people. It adds its name to the growing list of industry players dismissing staff due to the bear market, including Coinbase, Crypto.com, Bybit, Huobi, Gemini, and more. According to CNBC coverage, Luno will reduce its headcount from 960 to around 630. “2022 has been an incredibly tough year for the broader tech industry and, in particular, the crypto market. Luno,...

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Charles Hoskinson, CEO of Input Output Global, the firm behind the Cardano blockchain, is interested in purchasing the crypto news website CoinDesk. The latter is exploring a potential sale as its sister firm slid into bankruptcy. CoinDesk’s Kevin Worth recently asserted that the publication was receiving “numerous inbound indications of interest.” On Potential CoinDesk Acquisition and Journalistic Integrity In the latest livestream, Hoskinson said his media interest is broad...

Coindesk: Das bekannteste Medium zum Thema Digitale Währungen. Der Preiszerfall der wichtigsten digitalen Währungen hat der Branche heftig zugesetzt. So sehr, dass nun vielleicht sogar der bekannteste Bitcoin-Blog Coindesk zum Verkauf steht. Denn die Firma hinter Coindesk, die Digital Currency Group, stekt in finanziellen Schwierigkeiten. So muss eine der Tochterfirmen, Genesis, Konkurs anmelden. Aber auch sonst scheint es der Firma rund um Barry...