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” DCG offloads Grayscale shares to raise capital: Report “ Cryptocurrency conglomerate Digital Currency Group (DCG) has reportedly begun to sell its holdings in crypto funds managed by its subsidiary Grayscale Investments as it looks to raise capital and preserve liquidity. According to a Feb. 7 Financial Times report citing seen United States securities filings,…
” Genesis entity going up for sale as DCG makes creditor pact “ Genesis Global has announced it has reached an “agreement in principle” with Digital Currency Group (DCG) which will eventually see its crypto lending and trading arm sold as part of restructuring efforts. According to a Feb. 6 press release, DCG would contribute…
” Genesis unsecured creditors’ committee appointed “ A seven-member committee has been appointed to represent the interests of unsecured creditors in Genesis Global bankruptcy case, according to court filings on Feb. 4. The committee will represent the creditors in court, having the right to be consulted before major decisions and to participate in the reorganization…
” Crypto firms cut nearly 3,000 jobs in January despite Bitcoin’s rise “ Crypto companies tightened their purse strings in the first month of 2023, with at least 2,900 crypto staff cut loose across 14 crypto firms in January. The latest firm to reportedly initiate a layoff is the crypto infrastructure provider Prime Trust which…
” Osprey sues Grayscale for misrepresenting likelihood of GBTC ETF approval “ Digital asset manager Osprey Funds filed suit against Grayscale Investments in Connecticut Superior Court on Jan. 30, alleging violation of the state’s Unfair Trade Practices Act. The suit concerns Grayscale advertising and promotion of the Bitcoin (BTC) exchange-traded fund (ETF) it is seeking…
” Opinion: Barry Silbert keeps quiet as Genesis goes down in flames “ Just two months after the collapse of FTX, Genesis is following suit. Against an increasingly disheartening backdrop of “Big Cryptos” going bust, Barry Silbert’s cryptocurrency lender, Genesis Global Holdco, is the latest firm to file for bankruptcy, and if things always come…
” DCG companies have laid off over 500 employees as contagion spreads “ Hundreds of people have lost their jobs at companies owned by crypto venture capital firm Digital Currency Group (DCG), as the long crypto winter, made colder by the FTX collapse, continues to affect the sector. Amid the recent layoffs, London-based cryptocurrency exchange…
” Genesis creditors file securities lawsuit against Barry Silbert and DCG “ Troubled cryptocurrency company Digital Currency Group (DCG) is facing more legal issues as its subsidiary Genesis Capital got slapped with a new class action lawsuit. A group of Genesis creditors filed a securities class action (SCA) lawsuit against DCG and its founder and…
” Genesis eyes fast resolution to creditor disputes and bankruptcy exit in May “ A lawyer for bankrupt crypto lending firm Genesis is optimistic the firm can resolve its creditor disputes as early as this week and the company could come out of Chapter 11 proceedings by late May. Genesis’ lawyer Sean O’Neal made the…
” Cathie Wood: Ark dumps 500K GBTC shares, adds Coinbase stock as Bitcoin recovers 40% “ Cathie Wood’s Ark Invest offloaded a chunk of its Grayscale Bitcoin Trust (GBTC) shares since November’s Bitcoin (BTC) price lows, the latest data shows. Cathie Wood’s Ark short-term cautious on GBTC Ark Invest added 450,272 GBTC shares worth $4.5 million to…