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Bitcoin ATM Operator Coin Cloud Seeks Bankruptcy Protection, Owes Millions To Genesis Global
Thursday, February 9, 2023 - 3:00pm | 401Coin Cloud, a Las Vegas-based company that operated more than 4,000 Bitcoin ATMs in the U.S. and Brazil, declared Chapter 11 bankruptcy. The court filing estimated the company's liabilities to be between $100 million and $500 million, with Genesis Global Trading, a subsidiary of...
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Digital Currency Group Under Scrutiny For Internal Transfers, SEC Investigates
Monday, January 9, 2023 - 12:15pm | 340Federal prosecutors in New York, along with the U.S. Securities and Exchange Commission, are investigating Digital Currency Group (DCG) for possible wrongdoing involving internal transfers at its lending subsidiary, Genesis. DCG has reportedly received requests for documents and interviews by...
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Is Ethereum Classic Headed Toward $15? What Could Happen If This Pattern Plays Out
Wednesday, November 16, 2022 - 12:18pm | 571Ethereum Classic (CRYPTO: ETC) was sliding about 3% lower during Wednesday’s 24-hour trading session amid cascading fears stemming from the FTX fallout. The lending division of crypto investment bank Genesis Global Trading temporarily halted redemptions and the initiation of new loans...
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Genesis Crypto Lending Unit Halts Customer Withdrawals On Heels Of FTX Bankruptcy
Wednesday, November 16, 2022 - 10:09am | 537Days after the collapse of cryptocurrency exchange FTX, the lending division of crypto investment bank Genesis Global Trading has temporarily stopped accepting redemptions and initiating new loans. Interim CEO Derar Islim confirmed the decision to customers on a Wednesday call. According to the...
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Goldman Sachs Could Offer Hedge Funds And Bitcoin Miners A New Way To Boost Yields
Thursday, March 10, 2022 - 3:58am | 303Wall Street banking giant Goldman Sachs Group Inc (NYSE: GS) reportedly plans on expanding its cryptocurrency product offerings to include over-the-counter (OTC) bilateral crypto options. What Happened: Sources familiar with the matter revealed that the bank is in the early stages of discussions to...