Gemini lawsuit accuses Barry Silbert, Digital Currency Group of fraud
Gemini Trust Company has sued Digital Currency Group and CEO Barry Silbert for fraud, according to a complaint filed Friday. Cameron Winklevoss, the co-founder of Gemini, has disclosed that they have sued the Digital Currency Group (DCG) and its leader Barry Silbert individually. According to the lawsuit, DCG and Silbert were charged with defrauding the […]
DCG Closes TradeBlock Due to Crypto Regulatory Challenges
Digital Currency Group is closing its institutional trading platform, TradeBlock, due to market and legal challenges. According to a Bloomberg report , TradeBlock, a subsidiary of Digital Currency Group (DCG), will cease its operations on May 31. The platform offers trade execution and prime brokerage services to institutional investors in the crypto space. A DCG […]
Gemini Considers Forbearance Following DCG’s Delay in Payment
Crypto exchange Gemini is considering forbearance against its debtor Digital Currency Group (DCG) after the latter defaulted on a $630M debt payment. Gemini is contemplating a forbearance option against Digital Currency Group (DCG), which missed a $630 million repayment payment last week. When a lender grants forbearance, the consumer can temporarily reduce or suspend mortgage […]
Crypto industry records about 3,000 staff layoffs in January
Despite Bitcoin’s rise in January, the crypto industry witnessed about 3,000 staff layoffs with at least 14 firms including Coinbase, Gemini, DCG, and ConsenSys announcing staff reductions in the month alone. In the first month of 2023, cryptocurrency businesses tightened their belts, laying off at least 2,900 employees across 14 different businesses. The crypto infrastructure […]
DCG’s crypto exchange, Luno axes 35% of its staff
The Digital Currency Group (DCG), which owns the London-based crypto exchange Luno, is the latest to exhibit signs of market crisis contagion. Another indication of the market contagion that started with the Genesis bankruptcy was the announcement of layoffs by a crypto exchange that is a part of the Digital Currency Group (DCG). The decision […]