DCG, Barry Silbert Move to Dismiss NYAG Lawsuit, Label Claims as ‘Baseless Innuendo’
The recently amended lawsuit by NYAG claimed that investors were cheated out of $3 billion.
The recently amended lawsuit by NYAG claimed that investors were cheated out of $3 billion.
More institutional investors have come forward claiming damages from Genesis, tripling the NYAG’s initial fraud claim.
DCG said that it cannot support a plan that is "unlawful" and "deprives" the company of its "corporate governance rights."
Genesis Global Trading will surrender its BitLicense and cease operations as part of a settlement agreement with the NYDFS.
DCG is currently under obligation to retain its stake in Genesis throughout the latter's ongoing bankruptcy proceedings.
Grayscale is witnessing a major leadership shuffle amid active discussions with the SEC regarding the conversion of GBTC into spot
DCG must retain Genesis ownership until bankruptcy proceedings conclude. Genesis may lose $700M in tax benefits in certain scenarios.
If the judge signs off on it, DCG’s debt should be repaid in full by April.