What happened: Embattled crypto lender Genesis has filed for Chapter 11 bankruptcy protection. Now, the firm has made a series of transfers to crypto exchanges, suggesting that it could be[…]
Is Genesis’s Prepackaged Bankruptcy The Ultimate Sacrifice?
What Happened: Embattled crypto lender Genesis is negotiating with creditors on the terms of its Chapter 11 bankruptcy filing, sources told The Block on Wednesday. Under the proposed terms of[…]
SBF Says Excel Spreadsheet Proves FTX US Is Solvent
What Happened: Former FTX CEO Sam Bankman-Fried claims that information shared by Sullivan & Cromwell (S&C) about a shortfall of funds at FTX US is inherently false. S&C said it[…]
The DCG Rumor Mill as It Stands
Whispers about Digital Currency Group’s troubles have continued to make rounds on Twitter this week. While it’s hard to separate fact from fiction, it is worth considering the implications of[…]
3AC Founders Are Raising $25M for ‘GTX’
What Happened: Kyle Davies and Su Zhu, founders of the now-defunct hedge fund Three Arrows Capital, hope to raise $25 million in seed funding for their new venture “GTX.” GTX[…]
What to Watch in Crypto This Week
Here are some of the most important things to watch out for in the upcoming week: 1. Polygon Hard Fork Polygon is scheduled to undergo a major network upgrade mid-week.[…]
Polygon Plans Hard Fork for Jan. 17 to Prevent Gas Fee Spikes and Reorgs
Polygon Labs, the entity behind the Polygon blockchain, plans to upgrade its network in a hard fork next week. In a blog post on Thursday, the Polygon team announced that[…]
Crypto Lender Genesis Owes Over $3B: Report
Digital Currency Group (DCG) is considering selling some of its assets in light of the billions of dollars its subsidiary Genesis owes creditors. A Thursday report from the Financial Times,[…]
SBF Claims FTX Had $8B Before Bankruptcy, Says CZ’s Tweets Were a ‘Targeted Attack’ on Alameda
Former FTX CEO Sam Bankman-Fried has resurfaced on Substack, making a series of claims about the state of FTX and Alameda’s balance sheet before it filed for bankruptcy. In a[…]
SEC Charges Gemini and Genesis With Sale of Unregistered Securities
The U.S. Securities and Exchange Commission has named both Gemini and Genesis in a lawsuit. In a complaint filed on Thursday, the SEC alleged that crypto lending firm Genesis and[…]
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