DCG borrowed $500,000 from its subsidiary last year, and DCG Investments borrowed over 18,000 BTC. Both have allegedly defaulted.
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US-based Genesis Global Trading will eliminate its crypto spot trading service
The company, an affiliate of Barry Silbert’s Digital Currency Group, has been providing crypto spot trading since 2013. Its closure is “for business reasons.”
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Genesis lenders call DCG agreement ‘wholly insufficient’
The agreement in-principle reached by DCG and creditors also said that the Ad Hoc Group and Gemini did not support the deal.
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DCG reaches ‘agreement in principle’ with Genesis creditors, debtors
The estimated U.S. dollar equivalent recoveries could amount to 70%–90% for Genesis creditors, should the amended plan be carried out.
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CoinDesk to lay off part of editorial staff in preparation for sale of stake: Report
Estimates of staffers facing the axe range from 45% (20 people) to 16%. A companywide meeting is reportedly scheduled for Aug. 14.
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Digital Currency Group Strikes Back: Motion to Dismiss Gemini’s Lawsuit Filed
Digital Currency Group (DCG) has filed a motion to dismiss the lawsuit brought against them by Gemini Trust Company, LLC. The motion, filed in the
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