Key Point: A new proposal has been launched for the DCG’s liquidity problems solution.
The Creditors Committee expects to get a preliminary response from the troubled cryptocurrency company this week.
Gemini’s CEO announced that a solution has been found to the liquidity problems of DCG and Genesis. The creditor committee is currently waiting to hear back from these crypto companies. The Creditor Committee expects a response by this week. According to a previous Coincu News article Loans by Genesis Creditor Groups (one of DCG’s subsidiaries) amounted to $1.8 Billion and are growing. Gemini, the crypto company of the Winklevoss brothers, is one of its biggest creditors. It took in $900m after Genesis’ lender stopped customer withdrawals on November 16. The company’s number one priority is to return money to customers. They have made more than 200 investments in different crypto companies as of November 2021. The Genesis subsidiary suffered because of its large exposure to FTX’s collapse. This is the name that is receiving the most attention because it is on the verge of bankruptcy.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. 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#MarketsBlockchaincryptoDCGGeminiGenesis