Tag: DCG
DCG’s Barry Silbert Pitched Genesis and Gemini Merger in 2022 in a Drastic Bid to Save the Lender
In an email from Oct. 20, 2022, Silbert described a lunch meeting with Winklevoss where he discussed the challenges facing Genesis and, by extension, [...]
Digital Currency Group Files for Dismissal of New York Attorney General’s Lawsuit
The crypto firm's boss, Barry Silbert, also filed a motion to dismiss the Attorney General’s accusation that he concealed losses at the firms and so c [...]
DCG Calls Out Genesis’ Settlement With New York as ‘Subversive’
Jason Brown, a former co-chief deputy of the attorney general's office and a former senior federal attorney in New York, backed DCG's objection to the [...]
Digital Currency Group Reports Q4 Revenue of $210M, Up 59% Y/Y (Full Text)
Fourth quarter EBITDA was $99 million versus a loss of $7 million a year earlier.
www.coindesk.com [...]
DCG Cannot Reduce Ownership of Genesis Until Bankruptcy Proceedings Close, Judge Rules
The carryforwards can be used to decrease Genesis’ federal income tax liability in current and future years, the motion said, adding that could “trans [...]
Barry Silbert’s Digital Currency Group (DCG) Navigated Fallout From 2022’s Crypto Scandals
Since its inception in 2015, DCG, which is based in Stamford, Connecticut, has evolved into a conglomerate with holdings across the blockchain sector [...]
Genesis-DCG Propose to Settle Lawsuit: Bankruptcy Filing
The deal would see DCG repay $275 million it owes to Genesis by April.
www.coindesk.com [...]
Genesis strikes repayment deal with parent firm DCG to end $620M lawsuit
Bankrupt crypto lender Genesis and its parent company, Digital Currency Group (DCG), has struck a deal that could end an ongoing lawsuit to claw back [...]
Crypto Exchange Bullish Completes Purchase of CoinDesk: WSJ
Bullish, which is run by former New York Stock Exchange (NYSE) President Tom Farley, bought 100% of CoinDesk from crypto-focused investor Digital Curr [...]
Sam Bankman-Fried convicted, PayPal faces SEC subpoena, and other news: Hodler’s Digest, Oct. 19 – Nov. 4
Sam Bankman-Fried is found guilty of fraud, other crimes; PayPal receives subpoena from the U.S. SEC, and In [...]
Genesis’ Updated Liquidation Plan Is a Material Change, U.S. Government Says
“The prior plan provided for the sale of assets of the debtors and a non-debtor affiliate, a discharge of the debtors, and the reorganization of any u [...]
SBF takes the stand, ‘buy Bitcoin’ searches soar and other news: Hodler’s Digest, Oct. 22-28
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Sam Bankman-Fried takes the stand on FTX’s collapse
Sam “SBF” Bankman-Fried testified this week in his ongoi [...]
Sam Bankman-Fried Rebuffed Barry Silbert's and Celsius' Requests for Help, Ex-FTX CEO Testifies at His Trial
Sam Bankman-Fried Rebuffed Barry Silbert's and Celsius' Requests for Help, Ex-FTX CEO Testifies at His Trial
www.coindesk.com [...]
NY sues crypto firms, FTX’s Nishad faces 75 years in jail, and Grayscale…
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Grayscale files for new spot Bitcoin ETF on NYSE Arca
Major cryptocurrency investment firm Grayscale Investm [...]
DCG, Genesis Were the ‘Adults in the Room’ but Didn’t Behave Like It
In crypto, companies are often more intertwined and dependent than you would suspect, and, after a while, all of the schemes that brought down firms l [...]