Genesis
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The distributions mark a 232% recovery from when withdrawals were halted in November 2022
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NYAG announced details about its settlement with bankrupt lender Genesis on Monday
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Bankrupt lender Genesis has “fully monetized” its nearly 36 million GBTC shares, court documents show
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Gemini “failed to prevent harm suffered by Earn program customers,” according to a NYDFS statement
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The hearings are expected to last for a couple of days as the court hears arguments for and against the bankruptcy plan proposed by Genesis
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The parent company of bankrupt lender Genesis filed an objection to its settlement agreement with the NYAG on Wednesday
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The bankrupt crypto lender’s settlement proposal comes after it agreed to pay a possible $21 million as part of an agreement with the SEC last week
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DCG says the plan “strips” the company of “other valuable economic and corporate governance rights”
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FTX, Genesis, Core Scientific and Voyager continue to move forward with bankruptcy proceedings
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Plus, former Genesis CEO departs new exchange, and a crypto research firm teases expansion
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Plus, crypto job postings decline, and the Boston Fed looks to hire a CBDC researcher
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The “root lesson to be learned,” Ahluwalia says, is “not to borrow from Genesis to go levered long on your own product”
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A US trustee says the disclosure fails to include information about creditor distributions
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Gemini is now targeting Genesis in an attempt to recover roughly 62 million shares GBTC shares
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In its third quarter shareholder letter, DCG gave updates on Grayscale, the NYAG suit and the Genesis creditor plan
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