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Genesis
Bitcoin Slumps Below $28K; Genesis, FTX Strike Deal for $175M Bankruptcy Claim
“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as bitcoin (BTC) trades below $28,000. FTX’s Alameda Research strikes a deal with bankrupt crypto company Genesis, according to new court filings. Valkyrie Digital Assets is doubling down on ether futures products. And, a closer look at where is PayPal pressing pause on crypto transactions.
Genesis, FTX Strike Deal for $175M Bankruptcy Claim
Though a sharp drop from the $4 billion originally claimed, lawyers hope it will let them get on with winding up estates.
DCG Says It Sees Resolving Genesis Chapter 11 Bankruptcy Soon
Digital Currency Group comments on the restructuring in an investor letter.
FTX and Genesis Reach Agreement in Ongoing Bankruptcy Dispute
Crypto lender Genesis Global Capital is FTX’s largest unsecured creditor, with $226 million in claims.
Legal Expert Weighs in on Gemini's Lawsuit Against DCG
Crypto firm Gemini sued Digital Currency Group last week, alleging the industry conglomerate and its founder Barry Silbert committed "fraud" through DCG subsidiary Genesis, which held funds for Gemini tied to the latter company's Earn program. Hodder Law Firm Managing Partner Sasha Hodder discusses the key takeaways. Plus, what to make of Twitter threatening to sue Facebook parent company Meta over the Threads app. CoinDesk and Genesis are both owned by DCG.
Cameron Winklevoss Says Gemini Filed Lawsuit Against Digital Currency Group
Crypto trust firm Gemini is suing Digital Currency Group, alleging the industry conglomerate and its founder Barry Silbert committed "fraud" through DCG subsidiary Genesis. "The Hash" panel discusses the latest developments, as DCG calls Gemini's latest legal action "baseless" and "defamatory." Both CoinDesk and Genesis are owned by DCG.
Crypto Lender Genesis Amends Reorganization Plan as Mediated Talks Continue
The updated plan from mediated discussions with parent company DCG reflects “substantial agreement” on several key issues.
Genesis Bankruptcy Judge Extends Mediation Period Between Genesis, Creditors
The insolvent lender will now have until August 2 to submit a plan to emerge from bankruptcy.
Defunct Crypto Hedge Fund 3AC Insists on Taking Part in Genesis Mediation
The defunct crypto hedge fund has claimed over $1 billion against Genesis, which itself filed for bankruptcy in January.
Gemini and Bankrupt Lender Genesis Ask U.S. Court to Dismiss SEC Lawsuit Targeting Earn Program
The U.S. Securities and Exchange Commission alleged the two entities had sold unregistered securities through Gemini's Earn program.
