Genesis
The distributions mark a 232% recovery from when withdrawals were halted in November 2022
NYAG announced details about its settlement with bankrupt lender Genesis on Monday
And, the US Congress drew headlines last week as it moved crypto-friendly regulation to completion
Bankrupt lender Genesis has “fully monetized” its nearly 36 million GBTC shares, court documents show
Gemini “failed to prevent harm suffered by Earn program customers,” according to a NYDFS statement
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
The parent company of bankrupt lender Genesis filed an objection to its settlement agreement with the NYAG on Wednesday
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
DCG says the plan “strips” the company of “other valuable economic and corporate governance rights”
FTX, Genesis, Core Scientific and Voyager continue to move forward with bankruptcy proceedings
Plus, former Genesis CEO departs new exchange, and a crypto research firm teases expansion
Plus, crypto job postings decline, and the Boston Fed looks to hire a CBDC researcher
The “root lesson to be learned,” Ahluwalia says, is “not to borrow from Genesis to go levered long on your own product”
A US trustee says the disclosure fails to include information about creditor distributions
Gemini is now targeting Genesis in an attempt to recover roughly 62 million shares GBTC shares
In its third quarter shareholder letter, DCG gave updates on Grayscale, the NYAG suit and the Genesis creditor plan
Genesis and Gemini’s Earn program operated as an investment contract, New York Attorney General Letitia James alleges