April 18th, 2025
DCG News - Page 2
DCG-backed Genesis Global Trading to Shut Down US Crypto Spot Trading by September 18
By Steve Muchoki
September 6th, 2023
The decision by Genesis Global Trading (GGT) to wind down its business was reportedly voluntary and is currently working with regulators to ensure an orderly closure of services.
Creditors Accuse Genesis of Manipulating Bankruptcy Process in FTX Deal
By Godfrey Benjamin
September 1st, 2023
The accusations of vote-buying and manipulation have added complexity and uncertainty to the Genesis bankruptcy case.
Genesis Creditors to Receive 90% in Funds amidst Agreement with DCG
By Godfrey Benjamin
August 29th, 2023
In addition to the partial repayment agreement, DCG has also committed to paying an additional $275 million, disbursed in four installments after the date of the initial partial repayment.
CoinDesk Lays Off 45% of Its Editorial Staff as It Explores Sales Option
By Godfrey Benjamin
August 14th, 2023
The investor letter noted that CoinDesk has enlisted the expertise of financial advisers to facilitate the process of onboarding new institutional and strategic investors, in collaboration with DCG.
Digital Currency Group (DCG) Files Motion to Dismiss Lawsuit by Gemini
By Bhushan Akolkar
August 11th, 2023
The DCG filing notes that Silbert and the company “played an insignificant role in the Gemini Earn program”, and Gemini’s allegations of fraudulent behavior don’t hold merit.
DCG Appoints New CFO, Close to Reach and Agreement on Genesis Bankruptcy
By Bhushan Akolkar
August 1st, 2023
The Digital Currency Group has hinted that they could be making creditor payments for Genesis Global soon and plan to resolve all the claims.
Winklevoss Pens Open Letter to DCG’s Silbert, Demands $1.47B Payment from DCG
By Mayowa Adebajo
July 4th, 2023
Winklevoss has now asked DCG to repay a total debt of $1.46 billion or face a lawsuit.
Digital Currency Group (DCG) to Close Down Its Prime Brokerage Subsidiary TradeBlock
By staff writer
May 26th, 2023
TradeBlock will officially begin the process of shutting down on May 31.
Gemini Says Genesis Parent DCG Defaulted on $630M Payment, Updates Contingency Plan
By Tolu Ajiboye
May 22nd, 2023
Gemini seeks to exact its owed payment sum from Genesis parent DCG and is working with several creditors on a forbearance plan.
FTX Officials Seek to Recover Over $3.88B from DCG-backed Genesis Global
By Steve Muchoki
May 4th, 2023
The officials claim FTX-affiliated Alameda Research had largely repaid the $8 billion borrowed from Genesis Trading, a few weeks before the former filed for Chapter 11 bankruptcy protection.
Binance Plans to Buy CoinDesk through CoinMarketCap ‘On Hold’
By Godfrey Benjamin
March 14th, 2023
According to Kevin Worth the Chief Executive Officer of CoinDesk, the media firm has been getting a lot of offers with no decisions made yet.
Binance in Partnership with Lee Woong-Yeol to Enter South Korean Market
By Sanaa Sharma
February 28th, 2023
In a note to executives and employees at the time of his retirement, Lee also talked about the necessity of blockchain technology.
Crypto Giant Digital Currency Group Books Loss of $1.1B in 2022
By Bhushan Akolkar
February 28th, 2023
The crypto winter of 2022 has put severe stress on the balance sheet of DCG. The company is working on major restructuring with the blowup of its crypto lending subsidiary Genesis.
Digital Currency Group Begins Selling Grayscale Holdings amid Financial Crisis
By Mayowa Adebajo
February 7th, 2023
The conglomerate is currently struggling financially and is focused on preserving its cash-generating business at the very least.
Luno Announces Employees Layoff amid Market Tumult
By Ibukun Ogundare
January 26th, 2023
Luno will be discarding 330 people out of about 960 employees.