Genesis

The company cites “business reasons” for no longer offering trading services via its British Virgin Islands-based subsidiary, according to a Thursday memo to clients

Unsecured creditors could expect a recovery rate between 70-90% according to the plan

Genesis is seeking to recoup $500 million and 4,550 BTC from DCG and DCGI

Gemini opposes both the DCG agreement and the FTX settlement

Genesis previously initiated a 30-day mediation process in May following concerns parent company DCG could risk defaulting on $630 million in debt obligations

In its lawsuit, Gemini cited a number of other prolonged measures it took before resorting to legal action against DCG

Gemini co-founder Cameron Winklevoss wants DCG to pay up in US dollars, bitcoin and ether — or else face a lawsuit

FTX alleges Genesis owes $3.9 billion in cash and crypto, as major feeder fund enabling fraudulent business model

Genesis, Gemini and other stakeholders are weighing whether to allow DCG more time to stave off a potential default

FTX is calling out avoidable transfers made before the company went bankrupt in November

DCG says that the creditors who reneged on the previous deal “raised all new demands”

Under the agreement, BitGo Trust will provide qualified custody services and cold storage for assets held on behalf of Genesis’ institutional clients

Self-styled ‘crypto CFA’ Ram Ahluwalia has carved out a following by publicly breaking down challenges facing industry titans

Blockworks exclusive: A number of Q4 and early Q1 launches that had been hotly anticipated by LPs are facing lengthy delays — if they haven’t already been nixed entirely

Amy Yu previously worked in equity markets at UBS, Nomura and JPMorgan before joining the crypto industry in 2018

The crypto conglomerate has reportedly sold a quarter of its shares in Grayscale’s Ethereum Trust after Genesis’ bankruptcy

Genesis could be up for sale under a new restructuring agreement with creditors

Do bad crypto trades go away if your counterparty goes bankrupt? Bitcoin Cash backer Roger Ver apparently hopes so

Cameron Wiklevoss threatens to sue Barry Silbert, DCG and others, following Genesis bankruptcy

The crypto lender reportedly warned investors about filing for bankruptcy if it couldn’t line up sufficient financing

The prominent crypto companies were already up against heaps of financial troubles before getting slapped with SEC violations

Gemini co-founder Cameron Winklevoss has said DCG owes affiliate Genesis nearly $1.7 billion, which is money he says it needs to fulfill Gemini users

In an email sent out to retail users, Gemini wrote that it terminated the Master Loan Agreement between Earn users and Genesis as of Jan. 8

Several sources have told Blockworks DCG’s head, Barry Silbert, isn’t telling the full story relating to his company’s relationship with crypto lender Genesis