Gemini Earn customers may be closer to getting their funds back, following a recent settlement between New York regulators and…
Sales will be executed gradually under broker guidance to prevent sudden share dumping, which could negatively impact prices.
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."
Crypto lender Genesis seeks court approval to sell trust assets worth $1.6B, with GBTC shares comprising nearly $1.4B.
The agreement lets Genesis avoid expenses from the SEC lawsuit and prioritize repaying customers and creditors.
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.
DCG must retain Genesis ownership until bankruptcy proceedings conclude. Genesis may lose $700M in tax benefits in certain scenarios.
Although the offer looks good on paper, it would give users far less than many feel they deserve.