News with the tag "Genesis Global"

The US Securities and Exchange Commission (SEC) has initiated formal cease-and-desist proceedings against venture capital firm Digital Currency Group (DCG) due to its alleged negligent conduct in relation to a lending program offered by its subsidiary, Genesis Global Capital (GGC). This action arise...

Genesis Global has concluded its restructuring process and is now set to distribute $4 billion worth of assets to its remaining creditors The post Genesis Global Concludes its Restructuring Process appeared first on TheCoinrise.com .

High-profile bankruptcy cases have become a lucrative goldmine for two major law firms involved in the legal proceedings: Sullivan and Cromwell and Kirkland and Ellis.

More than a year after halting withdrawals, Gemini Earn program has begun repaying over $2 billion in cryptocurrency to its users, the company announced Wednesday. This payout, which ensures customers receive their lent crypto assets, marks a step forward following a period of financial upheaval. Ge...

According to local media reports, Binance, the world’s largest cryptocurrency exchange, is embroiled in a controversy involving the alleged mishandling of victims’ assets and the unauthorized sale of crypto lender Genesis’ claims. The allegations suggest that Binance used these assets to offset the ...

NYAG says the settlement will establish a fund for New Yorkers who invested more than $1.1 billion in Genesis through the Gemini Earn program and blocks Genesis from operating in the state.

The New York State Attorney General (AG) has brokered a $2 billion settlement with Genesis Global to help those defrauded by Gemini Earn. Last winter, NY state AG Letitia James sued the crypto exchange Gemini, the lending firm Genesis and the investment giant Digital Currency Group (DCG) over allega...

The New York State Attorney General’s office has secured a $2 billion settlement with Genesis Global Capital, the bankrupt cryptocurrency lending platform. The settlement, approved by a federal bankruptcy judge, will establish a victims’ fund to compensate thousands of New Yorkers and other investor...

According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG’s equity stake.

Genesis Global, the bankrupt cryptocurrency lender secured a court approval in order to distribute billions of dollars in digital assets to the creditors. This is the second major announcement of debt repayment to creditors after FTX announced a similar plan earlier this month. Genesis’s Debt Repaym...