crypto

DCG Must Pay $350 Million To Eldridge Immediately If Genesis Bankrupts

Key Points: If Genesis goes bankrupt, DCG is immediately due for a loan of $350,000,000 words.
November 2021: DCG raises $600 Million from Eldridge and other investors.
Eldridge is working to return his investment.
Digital Currency Group founder Barry Silbert According to Eldridge, a senior secured loan is ranked higher than other loans. It also has a certain priority. This means that the loan must be repaid in full immediately. Eldridge, however, wants to avoid losing his investment and is working alongside DCG to raise capital and pay Genesis clients, investors, and customers. DCG is currently looking to pay off Genesis’ $1.5 billion debt. However, the loan it received Eldridge is now safe. It assured its investors that its relationship with Eldridge was “completely independent from Genesis’ restructuring strategy” and that it is not tied to any Genesis outcome. Gemini’s CEO announced that the company was working with the Creditors Committee financial advisors to solve the liquidity problems of Genesis. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comFoxyCoincu NewsTags: # Cryptocurrencies#MarketsbankruptcyBlockchaincryptoDCGGenesis