DCG Latest News | crypto news

DCG to pay $38m in SEC settlement for misleading investors

Former Genesis CEO Michael Moro has been sanctioned by the U.S. SEC as part of a 2023 lawsuit against the parent company, Digital Currency Group.

Jan 17, 2025 at 06:24 PM UTC

Genesis concludes bankruptcy with $4b creditor payout

Genesis Global and affiliated entities have begun disbursing $4 billion in creditor payouts following the completion of their restructuring process. According to an Aug. 2 statement, crypto lender Genesis Global started repayments to over 100,000 creditors after declaring bankruptcy in…

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Aug 2, 2024 at 07:11 PM UTC

Gemini to finally pay Earn clients. Is it the end of a 1.5 year-conflict?

The case of clients’ money from Gemini’s Earn program, frozen for a year and a half, is finally moving toward a resolution. On May 17, Judge Sean H. Lane approved Genesis’ Chapter 11 bankruptcy plan. The decision will allow the…

May 21, 2024 at 04:54 PM UTC

DCG files objection in bankruptcy court, calls out Genesis’ settlement subversive

Digital Currency Group (DCG) opposes the settlement between the New York Attorney General and Genesis. DCG filed a new application following an agreement with the prosecutor and Genesis, a bankrupt crypto lender that was one of DCG’s companies. Company executives…

Feb 22, 2024 at 10:36 AM UTC

Gemini, Genesis, DCG Slammed with $1b Crypto Fraud Lawsuit

New York Attorney General Letitia James filed a lawsuit on Thursday accusing three major cryptocurrency companies — Gemini Trust, Genesis Capital, and Digital Currency Group — of perpetrating a $1 billion fraud scheme that harmed investors.

Oct 19, 2023 at 02:25 PM UTC

Tonya Evans, blockchain expert, joins DCG’s board of directors

Digital Currency Group (DCG) has added Tonya Evans, a tenured professor at Penn State Dickinson Law with expertise in intellectual property, blockchains, and distributed ledger technology, to its board of directors. In her new role, Evans will contribute to the…

Sep 18, 2023 at 06:54 PM UTC

Gemini: Barry Silbert’s DCG continues to ‘gaslight creditors’

Gemini took issue with DCG's creation of a $1.1 billion promissory note, claiming it was an attempt to obscure substantial financial losses stemming from the collapse of Three Arrows Capital.

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Sep 16, 2023 at 07:52 PM UTC

DCG proposes repayment plan for Genesis creditors

DCG, parent company of insolvent Genesis, is proposing a creditor repayment plan, including that of Gemini Earn investors

Sep 13, 2023 at 10:05 PM UTC

FBI questions Winklevoss twins on DCG’s CEO misconduct

US federal officials are currently scrutinizing the internal financial transactions of DCG and its subsidiary, Genesis Global Capital.

Sep 8, 2023 at 03:08 PM UTC

Genesis suing DCG to recover $620m in outstanding loans

Genesis Global is suing DCG, aiming to reclaim $620 million in unpaid loans

Sep 7, 2023 at 08:03 PM UTC

Genesis Global set to quit crypto spot trading business

Genesis Global Trading, an affiliate of Digital Currency Group (DCG), plans to cease its crypto spot trading operations this month due to undisclosed “business reasons.” This voluntary decision stems from a series of business considerations and follows the January bankruptcy…

Sep 6, 2023 at 10:49 AM UTC

Gemini filed an opposition to Genesis’s bankruptcy plan

Gemini, a crypto exchange led by the Winklevoss twins, opposed the bankruptcy plan by Genesis and Digital Currency Group (DCG). Gemini‘s lawyers explained that the bankruptcy plan lacks enough details and guarantees for some of the largest debtors. The Gemini’s filing stated…

Aug 31, 2023 at 01:31 PM UTC

DCG and Genesis reach landmark settlement over bankruptcy

DCG's has reached a settlement with Genesis as they agree to reimburse creditors 70-90% as they seek tp address bankruptcy complexities and setting new recovery standards.

Aug 29, 2023 at 03:54 PM UTC

CoinDesk lays off over 40% of editorial staff to ‘ensure a financially sound business’ ahead of sale

Digital Currency Group (DCG) is laying off staff as the company tries to ensure that its expenses-to-profit ratio looks better for potential acquirers. DCG — the owner of CoinDesk — is cutting the publication’s editorial team by almost 45%, or…

Aug 14, 2023 at 04:06 PM UTC

Crypto media Coindesk might be sold for $125m

A group of investors are reportedly nearing a deal to acquire crypto media outlet Coindesk for $125 million. According to the Wall Street Journal citing “people familiar with the matter,” the investor group is led by Matthew Roszak, founder and…

Jul 21, 2023 at 12:29 PM UTC

Gemini files lawsuit against DCG and Barry Silbert alleging fraudulent activities

Cryptocurrency exchange Gemini has filed a lawsuit in a New York court against DCG (Digital Currency Group) and Barry Silbert. Cameron Winklevoss, the co-founder of Gemini, alleged in a tweet published today, June 7, that Silbert played a central role…

Jul 7, 2023 at 03:23 PM UTC

Gemini gives DCG a $1.46b debt repayment ultimatum

Gemini co-founder Cameron Winklevoss has proposed a final offer, mandating Digital Currency Group’s (DCG) Barry Silbert and his embattled company to start reimbursing Gemini Earn creditors by July 21 or face a lawsuit. There appears to be a glimmer of...

Jul 4, 2023 at 01:15 PM UTC

DCG to cease operation of its institutional trading subsidiary

Digital Currency Group (DCG) is shutting down one of its subsidiaries offering trading services to institutional investors, with the venture capital conglomerate citing a tough regulatory environment along with the bear market as reasons for its action. DCG is set...

May 26, 2023 at 11:23 AM UTC

Gemini enters mediation, hopes to quickly resolve DCG dispute

The Gemini crypto exchange hopes mediation will produce a swift resolution to negotiations with Digital Currency Group (DCG) about returning funds belonging to users of the now-defunct Gemini Earn program. In an update on April 28, Gemini stated that DCG,...

May 1, 2023 at 09:51 AM UTC

DCG’s mining subsidiary to introduce access fees

Bitcoin (BTC) mining pool Foundry USA has reportedly notified its users of its plans to introduce service access fees. Its parent firm, Digital Currency Group, is one of the entities hit hard by Sam Bankman-Fried’s FTX collapse. Foundry USA, a...

Apr 7, 2023 at 09:13 AM UTC

FTX sues Grayscale and DCG, citing mismanagement

Alameda Research Ltd, the FTX debtor, has filed a lawsuit against Grayscale Investment's CEO and owners over firm mismanagement in part of the Trust agreement violation.

Mar 7, 2023 at 04:14 PM UTC

DCG records over $1b loss in 2022 amid crypto collapses

Digital Currency Group (DCG), a venture capital conglomerate with subsidiaries including Genesis and crypto news publication Coindesk, recorded over $1 billion loss in 2022, majorly as a result of Three Arrows Capital’s collapse which impacted Genesis. According to the report...

Feb 28, 2023 at 10:19 AM UTC

Bitvavo will receive 80% of DCG debt

Bitvavo just released a statement announcing that they expect to receive at least 80% of the debt owed to them by DCG. According to incoming reports, Digital Currency Group currently owes Bitvavo, a famous Dutch crypto trading network, around $300...

Feb 7, 2023 at 01:54 PM UTC

DCG subsidiary Luno to sack 35% of its employees

Luno, a crypto exchange subsidiary of the Digital Currency Group (DCG), announced that it plans to cut about 330 of its 960 global workers.

Jan 25, 2023 at 07:23 PM UTC

Lenders accuse DCG CEO of hoax deal to hide $1.1b loss

In a proposed securities class action lawsuit against Digital Currency Group Inc., a group of lenders claimed that Barry Silbert, the CEO of an insolvent crypto firm, concocted a “misleading phony deal” to hide an impending $1 billion implosion. Former...

Jan 25, 2023 at 11:25 AM UTC

DCG and Barry Silbert hit with securities lawsuit

Digital Currency Group (DCG) and CEO Barry Silbert are facing a securities class action (SCA) lawsuit from a group of Genesis creditors.

Jan 24, 2023 at 03:55 PM UTC

DCG-owned media CoinDesk is in acquisition talks

CoinDesk is reportedly in talks with Lazard regarding a partial or total sale. The crypto news publication is owned by a troubled Digital Currency Group (DCG). As Sam Bankman-Fried’s FTX contagion continues to take its toll on CoinDesk’s parent company...

Jan 19, 2023 at 10:52 AM UTC

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 cut operational costs and preserve liquidity in reaction to the present...

Jan 18, 2023 at 09:50 AM UTC

Crypto.news weekly recap: former FTX boss maintains innocence, Nexo’s woes, DCG and Gemini face-off

From Sam Bankman-Fried's claims of innocence, crypto rebounce, FTX bankruptcy proceedings, Nexo raids, Coinbase layoffs, Gemini and DCG drama, the past week was activity-stuffed.

Jan 15, 2023 at 04:23 PM UTC

Justin Sun is prepared to spend up to $1 billion on Digital Currency Group’s assets

Digital Currency Group (DCG) is selling some of its assets. Justin Sun is prepared to spend $1 billion of his own money to buy it.

Jan 14, 2023 at 08:32 AM UTC

Bitvavo rejects DCG’s 70% repayment proposal

Bitvavo, a Dutch crypto exchange, has rejected a 70% repayment proposal from Digital Currency Group (DCG). DCG is currently experiencing a liquidity crunch. For Bitvavo, it’s an all-or-none situation Bitvavo has released an update on the DCG situation. According to...

Jan 11, 2023 at 01:58 PM UTC

DCG CEO Silbert addresses $1.1b note in his letter to investors

As the pressure continues to rise on Digital Currency Group (DCG), the US-based company’s CEO, Barry Silbert, says in a letter that DCG may not need to pay the $1.1 billion promissory note. According to the letter, the massive amount...

Jan 11, 2023 at 08:41 AM UTC