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Latest Genesis News

Genesis went bankrupt months after Gemini reportedly withdrew $282M in crypto

Gemini Trust Co., a crypto exchange, reportedly withdrew $282 million from Genesis Global Holdco LLC months before Genesis filed for bankruptcy

2 days ago

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

September 13, 2023 at 10:05 pm

Genesis suing DCG to recover $620m in outstanding loans

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

September 7, 2023 at 8:03 pm

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…

September 6, 2023 at 10:49 am

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…

August 31, 2023 at 1:31 pm

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.

August 29, 2023 at 3:54 pm

Alameda Research to claim $175m from Genesis’ assets

FTX's Alameda Research has settled a claim for $175 million with the bankrupt crypto firm, Genesis, according to recent court filings

August 17, 2023 at 4:46 pm

FTX and Genesis reach settlement in bankruptcy case

FTX and Genesis representatives informed the US court that they are ready to settle the bankruptcy case. In a filing to Judge Lane of the United States Bankruptcy Court, FTX and Genesis lawyers state that they agreed on a potential…

July 28, 2023 at 10:53 am

The battle of SEC and crypto companies: 2023 outline

The SEC has initiated legal actions against multiple crypto entities to address potential violations of securities laws and protect investors. As the deadlines for some of them draw near, let’s recall which are expected to end. Gary Gensler’s SEC has…

July 1, 2023 at 12:49 pm

Gemini challenges SEC in legal battle over Earn product

Gemini strikes back in a fierce legal battle against the SEC as the crypto giant defends its Earn product, claiming it's not a security but a loan-based offering.

May 27, 2023 at 3:12 pm

Digital Currency Group’s failure to pay $630m raises concerns

Genesis Global Capital, the now bankrupt lending arm of Digital Currency Group (DCG), has failed to pay approximately $630 million due to creditors, leading to discussions among stakeholders about a potential default.

May 22, 2023 at 4:11 pm

FTX seeks to recover nearly $4b in bankruptcy case

In a court petition published on May 3, insolvent crypto exchange FTX claimed insolvent Genesis Global Capital owed it roughly $4 billion. According to the lawsuit, Genesis was “largely repaid” the roughly $8 billion it lent to Alameda Research, a…

May 4, 2023 at 11:30 am

DGC liquidates Grayscale subsidiary shares to repay creditors

Digital Currency Group has begun liquidating stakes in crypto subsidiaries to raise funds to repay Genesis creditors. US securities filings seen by Financial Times reveal that DCG is having trouble balancing its financial books. The liquidations serve as an effort…

February 7, 2023 at 12:08 pm

Genesis creditors fleeing the bankrupt platform

Before Genesis filed for bankruptcy, many of its creditors were confident that they would receive all or most of their money back.

February 6, 2023 at 8:35 pm

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.

January 24, 2023 at 3:55 pm

Genesis’ attorney hopes to departure from bankruptcy in May

According to a lawyer representing Genesis, the firm could settle issues with its creditors as well as evade bankruptcy as of May. The firm is looking to sell off equipment to aid its financial crisis

January 24, 2023 at 9:02 am