City Global Financial News
22.02 / 14:05
Digital
Strategy
SoftBank
Analyzing Polygon’s eventful 2022 as layoffs raise questions
Polygon Labs, the developer company behind leading sidechain Polygon [MATIC], announced on 21 February that, at the beginning of the year, the company consolidated multiple business units, which resulted in a 20% reduction in its team.
13.02 / 20:02
UPS
Digital
SEC
Platform
Action
Gemini
More Trouble For Winklevoss Brothers As SEC Sues Over 'Gemini Earn' Program
The Securities and Exchange Commission (SEC) sued crypto firms Genesis Global Capital and Gemini for offering and selling unregistered securities to investors through the Gemini Earn crypto lending program, just a day after crypto exchange Gemini terminated its flagship Earn program over a dispute with crypto lender Genesis.
13.02 / 19:06
13.02 / 19:00
Digital
Platform
coinbase
Gemini
Kraken
Southern
Bitcoin
Crypto lender Genesis
Crypto Lender Genesis Files for Bankruptcy as FTX Contagion Spreads
Genesis, a crypto lending platform owned by venture capital firm Digital Currency Group, joined crypto firm BlockFi in filing for bankruptcy, the latest crypto company to go belly-up amid allegations of fraud after the collapse of FTX late last year.
09.02 / 01:31
business
Law
Gemini
Court
Bankruptcy
creditors
What creditors can expect from Genesis’ bankruptcy — and what others can learn
The holding company of troubled crypto lender Genesis Global Capital, Genesis Global Holdco LLC, filed for Chapter 11 bankruptcy protection in New York on Jan. 19. Genesis is the latest crypto platform to file for bankruptcy, joining Celsius, Voyager, BlockFi and FTX.
08.02 / 09:57
business
Ethereum
Cardano
Polygon
Grayscale
Bankruptcy
Bitcoin
DCG offloads Grayscale shares to raise capital: Report
Cryptocurrency conglomerate Digital Currency Group (DCG) has reportedly begun to sell its holdings in crypto funds managed by its subsidiary Grayscale Investments as it looks to raise capital and preserve liquidity.
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.
26.01 / 08:21
Ethereum
cryptocurrency
Bloomberg
Opinion
FTX
Bitcoin
Crypto is worth fixing. Regulators should get moving
The once-burgeoning realm of crypto and decentralised finance keeps imploding, presenting policy makers with a quandary: Should they just let it burn, or step in to address its now-obvious flaws?
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.
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.
21.01 / 09:43
UPS
Ethereum
ETH
BTC
Digital
Fighting
Bitcoin
Weekend
Ethereum prices
Bitcoin and Ethereum Prices Jump 8%: How Far Can The Rally Go This Weekend?
Bitcoin (BTC), the world's largest and most popular cryptocurrency, has prolonged its strong winning streak and reached its highest level since mid-September, about 22,687. Meanwhile, the second largest cryptocurrency Ethereum (ETH), is also experiencing a significant rise as It has increased by roughly 7% to $1,656, reaching a four-month high.
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.
20.01 / 12:05
Provident
BTC
Digital
Remark
Bitcoin
Bitcoin Price Predictions: Market Is Reacting To Genesis Global Capital Bankruptcy News
On January 20th, Bitcoin is trading at a range of $20,600 to $21,650. The reason for its winning streak might be linked to the fact that the market reached its greatest level of investor confidence since July. Meanwhile, institutional investors are the key drivers of the demand for Bitcoin.
20.01 / 12:05
SEC
Gemini
Exchange
Legal
Digital Currency Group
genesis
creditors
Genesis Files for Bankruptcy as it Seeks Protection From its Creditors – Which DCG Unit is Next to Fail?
After months of struggling, crypto lending and trading firm Genesis has filed for bankruptcy - but it's not the end of its troubles.
18.01 / 22:43
business
Liquidity
Digital Currency Group
Bankruptcy
Genesis is planning to file for bankruptcy: Report
Cryptocurrency lending firm Genesis Global Capital, a subsidiary of crypto conglomerate Digital Currency Group, is reportedly preparing to file for bankruptcy as early as this week.
18.01 / 17:11
Binance
FTX
Digital Currency Group
Would a Clear Out of Crypto Moguls and Their Centralized Companies Be Good for the Digital Asset Class?
As more and more crypto companies face scrutiny – and some throw in the towel after a rough bear market - questions are being raised whether that could be a good thing for crypto after all.
16.01 / 23:35
Binance
CFTC
SEC
Law Decoded, Jan. 9-16: Gemini, Bithumb, Nexo are fresh targets for regulation and prosecution
The United States Securities and Exchange Commission charged cryptocurrency lending firm Genesis Global Capital and crypto exchange Gemini with selling unregistered securities through Gemini’s “Earn” program.
14.01 / 01:43
markets
Gemini
Funding
Bitcoin
crypto market cap
Total crypto market cap closes in on $1T right as Bitcoin price moves toward $20K
The total cryptocurrency market capitalization reached its highest level in over two months on Jan. 13 after breaking above the $900 billion mark on Jan. 12.
13.01 / 15:19
SEC
Gemini
Legal
genesis
Crypto Lending Crisis - Gemini and Genesis Charged by US SEC With Selling Unregistered Securities
The US Securities and Exchange Commission (SEC) brought charges against major crypto exchange Gemini and the troubled crypto lending and trading firm Genesis.
13.01 / 12:31
Provident
SEC
Gemini
SEC sues crypto firms Genesis and Gemini over $900m lending product
WASHINGTON—The Securities and Exchange Commission on 12 January sued Genesis Global Capital and Gemini Trust Company over a $900m crypto-lending program that allegedly violated investor-protection laws.
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