Genesis

Editor’s note: the story has been updated with a comment from DCG. Genesis's Litigation Oversight Committee (LOC) has filed two lawsuits against Digital Currency Group (DCG), its CEO Barry Silbert, and a group of insiders, alleging systematic fraud, breach of fiduciary duty and insider...

Authorities have arrested two individuals involved in a sophisticated $243 million cryptocurrency heist targeting a Genesis creditor. What Happened: The arrests were made after an intensive investigation into a social engineering scheme carried out by a group of cybercriminals, which included...

Hyundai Motor Company (OTCPK: HYMTF) is reportedly considering a partnership with California-based Lucid Group (NASDAQ:LCID) for its high-performance electric motor. What Happened: Hyundai CEO Chang Jae-hoon visited Lucid’s headquarters in California early this year to discuss cooperation,...

Crypto lending firm Genesis Global has reportedly been given the green light by a U.S. Bankruptcy Judge to return approximately $3 billion in cash and cryptocurrency to its clients. This move leaves the firm’s owner, Digital Currency Group (DCG), with no recovery from the bankruptcy. What...

Genesis won a bid to block its parent company, the Barry Silbert-led Digital Currency Group (DCG), from selling or reducing ownership in the company. What Happened: Until Genesis closes its Chapter 11 proceedings, it can receive certain tax benefits which will be applicable only if the company...

Crypto lender Genesis announced its agreement to pay $33 million to Three Arrows Capital (3AC) to settle the hedge fund's $1 billion in claims. This news comes on the heels of Benzinga’s Future Of Digital Assets Event in New York scheduled on Nov.14. Attend and learn more about...

The U.S. government said the bankruptcy plan by Genesis haf material changes and they should be reviewed again by the company. What Happened: Crypto lender Genesis indicated in its updated bankruptcy plan that it now planned to liquidate assets and not sell them or...

New York Attorney General Letitia James filed a lawsuit against crypto companies Gemini Trust Company, Genesis Global Capital and Digital Currency Group, Inc. (DCG) for defrauding 230,000 investors, including at least 29,000 New Yorkers, of more than $1 billion. According...

As 2023 is almost ending, we're recapping some of the major crypto disasters of the last two years. With all of the regulatory changes that the crypto landscape is witnessing, 2024 is likely to see a stronger framework for companies. However, U.S. markets appear to be seeing...

In a revelation that has sent shockwaves through the crypto community, Caroline Ellison, a key figure in the trial of FTX founder Sam Bankman-Fried, on Wednesday disclosed her role in preparing not one, but seven different balance sheets for Genesis, months before the company's bankruptcy...

Caroline Ellison, a key figure associated with the cryptocurrency exchange FTX and Alameda Research, on Tuesday testified that Sam Bankman-Fried, the founder of the platform, harbored aspirations of becoming the U.S. president. Ellison Says She Questioned Use Of Customer Funds In 2020:...

Before diving into the world of crypto staking, Jesper Johansen, founder and CEO of institutional staking entity Northstake, emphasizes the importance of understanding the regulatory framework and assessing counterparty risks. In an interview with Benzinga, Johansen also ...

Three new electric vehicles (EVs) have been awarded the prestigious Insurance Institute of Highway Safety (IIHS) Top Safety Pick+ award. The recipients are the 2023 models of the Hyundai (OTC:HYMTF) Ioniq 6, Lexus (OTC:TOYOF) RZ and Genesis Electrified GV70, Electrek...

Coinbase Global Inc. (NASDAQ: COIN) has unveiled a new cryptocurrency lending service for U.S. institutional investors, aiming to step in where companies like BlockFi Inc. and Genesis Global stumbled. In this fast-changing crypto landscape, such pivotal moves are reshaping digital assets. To...

Digital Currency Group (DCG) is on the verge of settling claims related to the bankruptcy of Genesis, as revealed in a recent court document. The proposed settlement might enable unsecured creditors to retrieve between 70% and 90% of their claims in USD, Coindesk reported. Additionally,...