Genesis Global News

12.01 / 17:03

business Blockchain creditors Breaking: DCG owes creditors over $3B, considering $500M VC portfolio sale

Cryptocurrency broker Genesis Global allegedly owes its creditors more than $3 billion, according to a new report published by the Financial Times on Jan. 12. Its parent, Digital Currency Group (DCG), which also owns Grayscale Investments and its series of digital asset trusts, seeks to sell part of its venture capital holdings to offset the shortfall.

11.01 / 13:13

Gemini Winklevoss Twins Digital Currency Group Cameron Winklevoss Calls for DCG Board to Sack Barry Silbert

Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, has written an open letter to the Digital Currency Board (DCG) board, asking for the removal of the venture capital firm's CEO Barry Silbert.

06.01 / 23:31

business FTX Digital Currency Group Crypto Biz: SBF has his day in court; Barry Silbert accused of ‘stalling’ over frozen funds

After Sam Bankman-Fried was handed over to United States officials last month, his top lieutenants — Caroline Ellison and Gary Wang — had already been cooperating with the feds. The two pleaded guilty to a slew of charges and agreed to assist the Southern District of New York to investigate FTX and their former boss. SBF had his day in court on Jan. 3 and pled not guilty to all criminal charges.

30.12 / 18:41

markets Federal Reserve Futures Bitcoin 3 reasons why Bitcoin is likely heading below $16,000

December will likely be remembered by Bitcoin's (BTC) fake breakout above $18,000, but apart from that brief overshoot, its trajectory was entirely bearish. In fact, the downward trend that currently offers an $18,850 resistance could bring the BTC price below $16,000 by mid-January.

19.12 / 18:41

business Blockchain Grayscale Buyback Option Grayscale CEO highlights 20% GBTC share buyback option if ETF conversion fails

According to an end-of-year letter to investors published on Dec. 10, Grayscale Investments' CEO Michael Sonnenshein said that the firm may consider "a tender offer for a portion of the outstanding shares of GBTC [Grayscale Bitcoin Trust]" if the latter's exchange-traded fund conversion process is ultimately unsuccessful. Sonnenshein stated that "such tender offer would be for no more than 20% of the outstanding shares of GBTC" and would require both regulatory "relief" from the U.S. Securities and Exchange Commission as well as shareholder approval to approve such offer.

29.11 / 02:21

business Blockchain Investments Bitcoin Controlling shareholders' stakes in GBTC are 'highly illiquid': Report

According to a new Twitter post by Ryan Selkis, CEO of blockchain research firm Messari, Grayscale Bitcoin Trust's (GBTC) controlling shareholders Genesis Global and Digital Currency Group cannot simply "dump" their holdings to raise more capital. Selkis explained that the restrictions are due to Rule 144A of the U.S. Securities Act of 1933, which forces issuers of over-the-counter, or OTC, traded entities to give advance notice of proposed sales, as well as a quarterly cap on sale of either 1% of outstanding shares or weekly traded volume.

25.11 / 22:55

markets Binance Futures Bitcoin $15.5K retest is more likely, according to Bitcoin futures and options

Bitcoin (BTC) has been trading near $16,500 since Nov. 23, recovering from a dip to $15,500 as investors feared the imminent insolvency of Genesis Global, a cryptocurrency lending and trending company. Genesis stated on Nov. 16 that it would “temporarily suspend redemptions and new loan originations in the lending business.”

24.11 / 22:21

business Trading FTX Support Bybit launches $100M support fund for institutional traders

Crypto derivatives exchange Bybit has launched a new support fund to help institutional traders access liquidity in the wake of the FTX collapse — an event that triggered a fresh wave of panic selling across the digital asset space.

18.11 / 04:21

BTC/USD D2T Genesis Trading Bitcoin Bitcoin Price Prediction as Crypto Prices Stabilize, Is $20,000 BTC on the Cards?

Following the release of UK inflation figures, the price of Bitcoin remains below $17,000. which was higher than expected Most altcoins in the market have followed suit, as traders remain cautious.

18.11 / 03:37

business FTX Credit Suisse Bankruptcy fall FTX will be the last giant to fall this cycle: Hedge fund co-founder

While the FTX crisis is continuing to unfold, the former head of risk at Credit Suisse believes the exchange's fall from grace should be the last catastrophic event — at least in this market cycle.

17.11 / 01:21

business Stablecoin Tether Tether says it has no exposure to Genesis Global or Gemini Earn

Tether issued a short statement on Nov. 16 saying that it has no exposure to institutional crypto lender Genesis Global or the Gemini Earn program after the announcement that Genesis Global and the Gemini exchange were freezing withdrawals. Genesis Global is the lending partner for interest-bearing Gemini Earn.

16.11 / 18:03

business Blockchain Grayscale Withdrawals Crypto lender Genesis Breaking: Crypto lender Genesis Global halts withdrawals

According to a new tweet by Genesis Global on Nov. 16, the institutional crypto lender said it would “temporarily suspend redemptions and new loan originations in the lending business.” In explaining the decision, the firm cited “unprecedented market turmoil” related to the collapse of troubled cryptocurrency exchange FTX, resulting in “abnormal” levels of withdrawals that Genesis Global claims to have exceeded its current liquidity.

17.05 / 22:09

Forecast Trading stocks Bitcoin Crypto & Stocks 'Decoupling' Prediction Flops but There's Still Hope

It appears that some of the high-profile crypto fund managers have less of a crystal ball than some may want to believe.

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