City Genesis Financial News
25.01 / 01:37
markets
Ethereum
Altcoin
Ether price
Ethereum futures and options data reflect investors’ growing confidence in ETH price
The price of Ether (ETH) rallied 16% between Jan. 14 and Jan. 21, peaking at $1,680 before facing a 5.4% rejection. Curiously, the same resistance level resulted in a substantial correction in late August 2022 and again in early November 2022.
27.05 / 20:01
Binance
GoPax
Binance Sells Gopax’s Genesis Asset Rights at Steep Discount, Leading to Significant Losses
Binance, the largest shareholder of the South Korean cryptocurrency exchange Gopax, sold the asset claims of Gopax victims at less than half their face value on May 27.
31.07 / 01:15
06.06 / 17:38
markets
Binance
SEC
Bitcoin
Bitcoin Price
sec lawsuit
Maybe Bitcoin didn’t bottom? SEC lawsuit against Binance shakes BTC bulls’ confidence
Bitcoin’s price declined 5% in one hour on June 5 after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance on allegations of violating federal securities laws. Even though the $25,500 support held for Bitcoin, investors are still digesting the potential impacts of the regulatory action, which also involves Binance CEO Changpeng “CZ” Zhao.
26.05 / 09:35
Gemini
DCG
Tradeblock, DCG Subsidiary, to Be Shuttered Due to Crypto Winter
Amid an ongoing crypto market downturn, digital asset-focused venture capital firm Digital Currency Group (DCG) has announced it is closing its subsidiary TradeBlock which offers its trading services to institutional investors.
16.05 / 09:55
business
regulation
lending
Celsius
Whale
Withdrawals
Crypto bank runs in 2022 catalyzed by institutional withdrawals: Research
The 2022 crypto bank runs — caused by the failure of multiple ecosystem giants — have had a lasting impact on the crypto industry. A new research report from the Federal Reserve Bank of Chicago (FRBC) has identified several key factors and catalysts that accelerated last year’s crypto crisis.
12.05 / 19:21
BTC
Digital
SEC
CoinMarketCap
DXY
Bitcoin
Support
Bitcoin Price Prediction as BTC Approaches Long-Term $25,000 Support Level – Will the Price Hold?
As Bitcoin approaches the long-term support level of $25,000, there are speculations about whether the price will hold or experience further decline.
12.05 / 14:29
markets
Bitcoin Futures
Grayscale
Derivatives
Bitcoin
Bitcoin Price
Dollar
Bitcoin's dive under $27K liquidates $100M — So why aren't margin traders flipping bearish
Bitcoin’s price (BTC) broke below its 55-day support at $27,000 on May 12. In result, the two-day, 7% correction to $26,155 caused $100 million worth of long BTC futures contracts to be liquidated.
10.05 / 21:47
business
Court
Digital Currency Group
Loans
Bankruptcy
settlement
DCG settlement with Genesis still undecided as 30-day mediation period proceeds
Digital Currency Group (DCG), the parent company of crypto firm Genesis Capital, has reported no solution to its “outstanding intercompany obligations” that could help reimburse creditors.
25.04 / 14:17
business
Law
regulation
Court
Digital Currency Group
Bankruptcy
settlement
Genesis settlement disrupted by new creditor demands, DCG says
Troubled digital currency company Genesis Capital saw its settlement disrupted by creditors in two months after the initial agreement, raising concerns about the timing of the process.
28.02 / 04:09
business
Report
Digital Currency Group
Bankruptcy
DCG losses top $1B on the back of 3AC collapse in 2022
Cryptocurrency venture capital conglomerate Digital Currency Group (DCG) has reported losses of over $1 billion in 2022 due largely to the contagion relating tocollapse of crypto hedge fund, Three Arrows Capital (3AC).
04.02 / 23:25
business
defi
lending
Digital Currency Group
Bankruptcy
creditors
committee
Genesis unsecured creditors' committee appointed
A seven-member committee has been appointed to represent the interests of unsecured creditors in Genesis Global bankruptcy case, according to court filings on Feb. 4.
28.01 / 17:07
Government
Law
Adoption
regulation
Trading
Celsius
fall
NOT
Genesis Capital’s fall might transform crypto lending — not bury it
Is crypto lending dead, or does it just need better execution? That’s a question asked with more urgency in the wake of Genesis Global Capital Jan. 19 bankruptcy filing. That, in turn, followed the demise of other prominent crypto lenders, including Celsius Network and Voyager Digital in July 2022, and BlockFi, which filed for Chapter 11 bankruptcy protection in late November 2022.
28.01 / 02:01
markets
solana
Bitcoin
Bitcoin Price
crypto market cap
Total crypto market cap rises above $1T, and data suggests more upside is in store
Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand from bearish traders at the moment.
26.01 / 22:25
business
Gemini
Grayscale
FTX
Winklevoss Twins
Digital Currency Group
Opinion: Barry Silbert keeps quiet as Genesis goes down in flames
Just two months after the collapse of FTX, Genesis is following suit.
24.01 / 14:37
Law
regulation
Court
Digital Currency Group
Bitcoin
creditors
Genesis creditors file securities lawsuit against Barry Silbert and DCG
Troubled cryptocurrency company Digital Currency Group (DCG) is facing more legal issues as its subsidiary Genesis Capital got slapped with a new class action lawsuit.
23.01 / 03:57
markets
Derivatives
Bitcoin
Bitcoin Price
Bitcoin derivatives
week
Bitcoin derivatives data shows room for BTC price to move higher this week
This week Bitcoin (BTC) rallied to a 2023 high at $23,100 and the move followed a notable recovery in traditional markets, especially the tech-heavy Nasdaq Composite Index, which gained 2.9% on Jan. 20.
22.01 / 23:17
business
lending
Digital Currency Group
Bankruptcy
hearing
Genesis bankruptcy case scheduled for first hearing
The first hearing in Genesis Capital's bankruptcy case will be held on January 23 at 2:00 pm (EST), according to court filings. Judge Sean H. Lane of the United States Bankruptcy Court for the Southern District of New York will hear the case.
20.01 / 23:47
business
Digital Currency Group
Bankruptcy
committee
Genesis' bankruptcy filing was decided by independent committee according to DCG
Genesis Capital's parent company Digital Currency Group (DCG) denied involvement in Genesis' bankruptcy filing in a statement on Jan. 20. According to DCG, a special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection.
11.01 / 15:11
regulation
Grayscale
FTX
Bitcoin
letter
DCG chief Barry Silbert pens letter to shareholders, community reacts
The crypto community woke up to another drama-filled day after the Digital Currency Group (DCG) chief's reflection went wrong. DCG chief Barry Silbert penned a letter to the shareholders on Jan. 10, reflecting on the state of the crypto market and the growing FUD around the company. DCG is the parent company of Genesis Global Capital, a crypto lending firm and Grayscale, the world’s leading crypto asset manager.
04.12 / 00:41
business
Mining
FTX
Alameda Research invested $1.15B in crypto miner Genesis Digital: Report
Crypto mining company Genesis Digital Assets was the biggest venture investment made by Alameda Research, FTX's sister company and in the center of the exchange's bankruptcy. Documents disclosed by Bloomberg on Dec. 3 show that Genesis Digital raised $1.15 billion from Alameda in less than nine months.
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