Under the proposed plan, Gemini Earn users may only recover 61% of their lost funds in a worst-case scenario.
Genesis Global Capital Files for Over $600M in Unpaid DCG Loans: Court Docs
Genesis Global Capital, a subsidiary of Digital Currency Group, filed in court for DCG to repay outstanding loans in excess of $600 million on Wednesday.
Genesis Lender Group Opposes ‘Wholly Insufficient’ DCG Deal
Creditors with $2.4 billion in claims against the bankrupt crypto lender could scupper an agreement made after months of wrangling.
Defunct Crypto Hedge Fund 3AC Insists on Taking Part in Genesis Mediation
The defunct crypto hedge fund has claimed over $1 billion against Genesis, which itself filed for bankruptcy in January.
Genesis Requests Timetable for Sale, Creditor Claims
The company wants to sell off its business after filing for bankruptcy on Jan. 19.
DCG offloads Grayscale shares to raise capital: Report
The purported sales are the latest measures the embattled firm has taken following moves in recent months to raise capital and preserve liquidity.
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.
Genesis calls in restructuring expert in its fight to avoid bankruptcy
It is understood Moelis & Company has been brought on to help the troubled lending firm explore all possible options.