The now-bankrupt сrypto lender claims that the cryptocurrency exchange withdrew approximately $689,302,000 during the 90-day period prior to the bankruptcy, benefitting at the expense of other creditors.
Digital asset firm Genesis, owned by DCG, has announced that it will cease derivatives and spot trading through GGC International, which means that Genesis no longer offers any trading services at all. This marks yet another straw in the growing pile of troubles for DCG.
The now-bankrupt сrypto lender claims that the cryptocurrency exchange withdrew approximately $689,302,000 during the 90-day period prior to the bankruptcy, benefitting at the expense of other creditors.
Digital asset firm Genesis, owned by DCG, has announced that it will cease derivatives and spot trading through GGC International, which means that Genesis no longer offers any trading services at all. This marks yet another straw in the growing pile of troubles for DCG.
The CEO of Bitcoin Magazine has published documents on X (formerly Twitter) suggesting that DCG borrowed approximately $500 million from the now-bankrupt lender, Genesis. Bailey asserts that these funds were used to “manipulate and prop up the price of GBTC.”
The regulator had previously outright rejected Grayscale’s application to convert its Bitcoin Trust into a Bitcoin ETF. The court of appeals ruled that this decision was wrong, with the judge calling the SEC’s actions “arbitrary and capricious.”
