Genesis Global files for bankruptcy
Following the demise of the cryptocurrency exchange FTX, other businesses in the crypto space have also filed for Chapter 11 bankruptcy protection with the most recent being crypto lender Genesis global. Since the demise of the cryptocurrency exchange FTX, Genesis has seen significant withdrawals and significant liquidity problems. Genesis also has $175 million of its […]
CoinDesk reportedly considers sale option
Coindesk media and publishing business is apparently considering a possible sale, as its parent firm Digital Currency Group (DCG) seeks to bolster its financial sheet. DCG has also reportedly received offers for CoinDesk in recent weeks. The Wall Street Journal reports that CoinDesk has enlisted the assistance of investment bankers from the financial consultancy company […]
Bitvavo rejects DCG’s 70% repayment proposal
Bitvavo, said that it has rejected Digital Currency Group’s (DCG) proposal to repay 70 per cent of Genesis Trading’s debt. On January 11, Bitvavo formally disclosed that the company had received a counteroffer from DCG that offered to pay back roughly 70% of the outstanding balance over a period that Bitvavo could accept. The remaining […]