FTX’s debtors are applying “Herculean” effort to unearth the exchange’s remaining assets. Meanwhile, Sam Bankman-Fried claims FTX US is solvent.
Opinion: Digital Currency Group’s Genesis implosion marks another bottom in trust for crypto
Genesis, a subsidiary of Barry Silbert’s Digital Currency Group, filed for Chapter 11 bankruptcy on Jan. 19. Its default could have big implications for the crypto industry.
Bybit CEO offers clarity on exposure to Genesis, but community demands more
The community questioned Bybit’s timing in revealing their exposure now and many demanded proof to back up the reassurance from the CEO.
Genesis is planning to file for bankruptcy: Report
Another one bites the dust? Reports suggest the initial filing could come later this week.
Grayscale files brief in ETF suit against SEC, oral arguments may come within months
Grayscale appealed the SEC’s denial of its application to create a spot BTC ETF in June; the case “is moving swiftly,” according to the Grayscale chief legal officer.
Crypto Biz: DCG’s ‘carefully crafted campaign of lies’?
The public battle between Cameron Winklevoss and Digital Currency Group CEO Barry Silbert continues to rage.
Dutch exchange Bitvavo rejects DCG’s proposal to repay 70% of debt
After having about $290 million locked at Digital Currency Group, Bitvavo decided to pre-fund the assets on its own and is now looking for full repayment.
DCG chief Barry Silbert pens letter to shareholders, community reacts
Barry Silbert’s letter to shareholders came just hours after Cameron Winklevoss wrote an open letter accusing him of defrauding customers.
Digital Currency Group under investigation by U.S. authorities: Report
U.S. authorities are reportedly investigating internal transfers from Digital Currency Group to its subsidiary Genesis.
Crypto Biz: SBF has his day in court; Barry Silbert accused of ‘stalling’ over frozen funds
The founder of FTX pleaded not guilty to all criminal charges related to the collapse of crypto exchange FTX.
Genesis tells clients it needs more time on financial woes after Gemini demands action
Genesis interim CEO Derar Islim has sent a second letter to clients to say the crypto lender is working on its liquidity issues resulting from the FTX collapse, but they’re not there yet.
Crypto lender Genesis has no solution yet for withdrawal halts
Genesis said it will take additional weeks to carve out a recovery path for its lending business.
Disaster looms for Digital Currency Group thanks to regulators and whales
Regulators failed to regulate, and venture capital firms invested without conducting the proper due diligence.
Genesis denies ‘imminent’ plans to file for bankruptcy
The lending firm claims it’s having “constructive conversations with creditors” and plans to resolve the situation without the need for a bankruptcy filing.
Moonvember kicks off with sweeping staff layoffs across crypto
There are still pockets of hope, however, with some companies looking to expand despite the market conditions.
Genesis Trading CEO confirms 3AC exposure, parent company helps plug losses
Genesis Trading soldiers on after confirming 3AC exposure, while parent company Digital Currency Group assumes a portion of liability after losses.
OP Crypto launches $100M fund to back early-stage crypto VCs
Targeting a hard cap of $100 million, the OP FoF I fund is expected to close by the end of Q3, OP Crypto’s COO Lucas He said.
Grayscale launches smart contract fund for Ethereum competitors
The assets of seven smart contract platforms have been included in the fund: ADA, SOL, AVAX, DOT, MATIC, ALGO and XLM.
Crypto Biz: Another billionaire admits he was wrong about Bitcoin, Feb. 25–Mar. 3
Citadel Securities will enter the crypto market, CEO Ken Griffin confirmed. DCG announced a $250 million share repurchase for Grayscale products.
DCG announces $250M share repurchase for Grayscale products
The share repurchase program centers around Grayscale’s Litecoin, Zcash and Horizon investment products.