Genesis and DCG reach settlement deal over unpaid debts amidst fraud allegations
Genesis and Digital Currency Group (DCG) have come to a settlement agreement over unpaid debts, but the deal still requires approval from creditors. DCG will pay its subsidiary, Genesis Global Capital, $295 million in US dollars and bitcoin by April to partially repay the $620 million owed. However, creditors must still agree to the deal. Gemini, a major Genesis creditor, has opposed the restructuring plans and is currently in a legal dispute with DCG over allegations of fraud. The Securities and Exchange Commission (SEC) has also sued both Gemini and Genesis for selling unregistered securities.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Update on the pump.fun (PUMP) Token Sale Results
[Initial Listing] Bitget Will List PrompTale AI (TALE). Come and grab a share of 3,480,000 TALE
New spot margin trading pair — LA/USDT!
AINUSDT now launched for futures trading and trading bots
Trending news
MoreCrypto prices
More








