genesis

Up Arrows (Unsplash)
First Mover Americas: Bitcoin Busts Through $26K
The latest price moves in crypto markets in context for March 17, 2023.
Up Arrows (Unsplash)

Lion Nebula (Sh2-132) SHO Palette Narrow Band
Genesis Requests Timetable for Sale, Creditor Claims
The company wants to sell off its business after filing for bankruptcy on Jan. 19.
Lion Nebula (Sh2-132) SHO Palette Narrow Band

Barry Silbert. CEO & Founder Digital Currency Group (DCG)
Crypto Conglomerate Digital Currency Group Reports Loss of $1.1B in ‘Challenging’ 2022
DCG held cash and cash equivalents of just $262 million at the end of 2022, while investment assets amounted to $670 million.
Barry Silbert. CEO & Founder Digital Currency Group (DCG)

Tangled ball of colored wires against black
Crypto Has an Incest Problem
Court filings reveal complex interlocking relations between major crypto firms – with implications for the ecosystem’s resilience, and for customers owed money.
Tangled ball of colored wires against black

A Genesis booth at the FTX conference in the Bahamas (Danny Nelson/CoinDesk)
Genesis Unveils Proposed Sale Plan With DCG, Bankruptcy Creditors
Parent company Digital Currency Group would turn its equity in Genesis Global Trading over to a holding company as part of an effort to sell both firms.
A Genesis booth at the FTX conference in the Bahamas (Danny Nelson/CoinDesk)

Bankruptcy (Gerd Altmann/Pixbay)
Bitcoin ATM Operator Coin Cloud Files for Bankruptcy With Liabilities of $100M-$500M
Coin Cloud was provided an unsecured loan of $100 million from Genesis Global Capital.
Bankruptcy (Gerd Altmann/Pixbay)

CDCROP: Barry Silbert. CEO & Founder Digital Currency Group (DCG)
DCG Is Selling Holdings in Several Grayscale Trusts: Financial Times
Grayscale operates the Grayscale Bitcoin Trust (GBTC), which has $10 billion-plus in assets under management.
CDCROP: Barry Silbert. CEO & Founder Digital Currency Group (DCG)

CDCROP: Barry Silbert. CEO & Founder Digital Currency Group (DCG)
DCG Creditor Pact Revealed With Plan to Sell Genesis Trading Unit as Part of Bankruptcy
Earlier Monday, CoinDesk reported that DCG and Genesis had reached an agreement with a key group of creditors.
CDCROP: Barry Silbert. CEO & Founder Digital Currency Group (DCG)

(A Mokhtari/Getty Images, modified by CoinDesk)
Would a Genesis/DCG Deal With Creditors End the Crypto Contagion?
According to sources, an in-principle agreement has been reached.
(A Mokhtari/Getty Images, modified by CoinDesk)

CDCROP: GENESIS Logo Photomosh (Genesis Trading, Modified by CoinDesk)
Bankrupt Lender Genesis and Parent DCG Reach Initial Agreement With Main Creditors: Source
The term sheet includes "an equitization of the 10-year promissory note that DCG gave Genesis in return for the 3AC claims," a person familiar with the situation said.
CDCROP: GENESIS Logo Photomosh (Genesis Trading, Modified by CoinDesk)