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.

Earlier Monday, CoinDesk reported that DCG and Genesis had reached an agreement with a key group of creditors.
Genesis Trading, a crypto lender, will eliminate 60 positions, or 30% of its workforce, as it attempts to economize and stave off a bankruptcy filing.
Crypto trading firm Genesis is reportedly under the lens of regulators in the state of Alabama and other U.S. states.
Separately, the CEO of Genesis' parent company disclosed that it had a roughly $575 million liability to Genesis.
The statement was released in response to reports that Genesis Global and the Gemini exchange have stopped allowing withdrawals.
This comes after the collapse of hedge fund Three Arrows Capital and crypto exchange FTX.
The aftermath of the crypto winter is yet to be over.
Genesis Trading held on after confirming its 3AC exposure, while parent company Digital Currency Group took some responsibility after losses.
Genesis Trading soldiers on after confirming 3AC exposure, while parent company Digital Currency Group assumes a portion of liability after losses.
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