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Top related persons:
Dado Ruvic - 1 Genesis - 1 DCG - 1 Barry Silbert - 1 Jonathan Stempel - 1 Stephen Coates - 1
Top related locs:
Manhattan Southern District Southern District of New York New York
Top related orgs:
REUTERS - 1 Group - 1 Genesis Global Capital - 1 Digital Currency Group International - 1 Arrows Capital - 1 Alameda Research - 1 Genesis Global - 1 LLC - 1

Search resuls for: "Digital Currency Group Inc"


5 mentions found


☆ Genesis Global Capital seeks to recoup over $600 mln unpaid DCG loans
  + stars: | 2023-09-06 | by ( Us Appeals Judge Faults Probe Of Federal Circuit'S Pauline Newman | Andrew Goudsward | August | ) www.reuters.com   time to read: +2 min
In a complaint filed in Manhattan bankruptcy court, Genesis is seeking to recoup $500 million that DCG borrowed under four loans. In a statement on Wednesday, DCG said it expects to file a settlement with the bankruptcy court soon. Genesis filed for Chapter 11 protection from creditors in January, two months after halting withdrawals. The cases are Genesis Global Capital LLC v. Digital Currency Group Inc, U.S. Bankruptcy Court, Southern District of New York, No. 23-ap-01168; and Genesis Global Capital LLC v. DCG International Investments Ltd in the same court, No.
Persons: Dado Ruvic, Genesis, DCG, Barry Silbert, Jonathan Stempel, Stephen Coates Organizations: REUTERS, Group, Genesis Global Capital, Digital Currency Group International, Arrows Capital, Alameda Research, Genesis Global, LLC, Digital Currency Group Inc, Bankruptcy, Southern District of, DCG, Investments Ltd, Thomson Locations: Manhattan, Southern District, Southern District of New York, New York
☆ Crypto Media Outlet CoinDesk Taps Bankers for Potential Sale
  + stars: | 2023-01-19 | by ( Lauren Thomas | ) www.wsj.com   time to read: 1 min
CoinDesk’s parent company is Digital Currency Group Inc., or DCG, which operates the media platform as well as an events business and cryptocurrency price indexes. CoinDesk Inc., a cryptocurrency-focused media company, has retained investment bankers at Lazard Ltd. to help it explore options including a partial or full sale, according to its chief executive officer. “Over the last few months, we have received numerous inbound indications of interest in CoinDesk,” CoinDesk CEO Kevin Worth said.
☆ A Crypto Magnate Saw the Risks and Still Was Hammered
  + stars: | 2023-01-18 | by ( Gregory Zuckerman | Vicky Ge Huang | Caitlin Ostroff | ) www.wsj.com   time to read: 1 min
The cryptocurrency crunch is so bad even the pros are getting squeezed. A year ago, Barry Silbert ’s 40% stake in Digital Currency Group Inc., or DCG, was valued at more than $3 billion. A crypto conglomerate, with tentacles in nearly every corner of the industry from lending to bitcoin mining, DCG worked out of plush Connecticut offices featuring a marble-countertop kitchen with a coffee barista and a French chef.
☆ Gemini's Winklevoss calls for removal of DCG chief Barry Silbert
  + stars: | 2023-01-10 | by ( ) www.reuters.com   time to read: +1 min
Jan 10 (Reuters) - Cryptocurrency exchange Gemini co-founder Cameron Winklevoss on Tuesday called for the removal of Digital Currency Group Inc (DCG) chief Barry Silbert, amid tensions between the two high-profile crypto executives in the wake of the FTX collapse. Genesis halted customer withdrawals in November, after major exchange FTX filed for bankruptcy. In his open letter to the DCG board, Winklevoss said Genesis and DCG had "defrauded" some 340,000 Earn users. "There is no path forward as long as Barry Silbert remains CEO of DCG," Winklevoss wrote. The latest development comes a week after Winklevoss penned another open letter to Silbert, saying Genesis owed more than $900 million to Earn users.
☆ Digital Currency Group Says Revenue Will Fall This Year
  + stars: | 2022-11-22 | by ( Peter Rudegeair | Vicky Ge Huang | ) www.wsj.com   time to read: 1 min
Barry Silbert, chief executive officer of Digital Currency Group, says in an investor letter that the company has ‘ weathered previous crypto winters.’Digital Currency Group Inc. said 2022 revenue is on track to reach $800 million, down about 20% from what the cryptocurrency-focused conglomerate expected to generate last year. DCG is the parent company of Genesis Global Capital, a crypto lending firm that paused redemptions and loan originations on Nov. 16 after it couldn’t meet client withdrawal requests. DCG owes Genesis around $575 million that is due in May 2023, in addition to a $1.1 billion promissory note to Genesis due in June 2032, DCG Chief Executive Barry Silbert said in a letter to investors that was viewed by The Wall Street Journal.
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