Bitvavo said that the repayment of just a part of the outstanding amount is 'not acceptable.'
Dutch Crypto Exchange Refuses DCG’s Offer to Pay 70% of its DebtBitvavo said that the repayment of just a part of the outstanding amount is “not acceptable.”
However, the company refused the offer citing that the crypto conglomerate has sufficient funds available for full repayment. Digital Currency Group is currently under investigation by the US Department of Justice’s Eastern District of New York as well as the Securities and Exchange Commission . The focus is on the internal transfers between the company and its troubled subsidiary – crypto lending firm – Genesis Global Capital.
It halted withdrawals on November 16th, citing liquidity issues, and has been involved with investment bank Moelis & Company for restructuring purposes.$900 million to the crypto exchange Gemini. The two platforms jointly operated together a product called Gemini Earn, which enabled users to earn 8% interest on their loans.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dutch exchange Bitvavo rejects DCG’s proposal to repay 70% of debt“As creditors, we do not find the latter acceptable because DCG has sufficient resources available for full repayment,” DCG creditor Bitvavo said.
Read more »
Shiba Inu (SHIB) Now Largest Crypto Holding on Indian Crypto Exchange WazirXShiba Inu makes up biggest chunk of reserves on Indian Crypto exchange WazirX Shiba ShibArmy SHIBCommunity SHIB $SHIB ProofOfReserves
Read more »
Bitvavo rejects DCG's partial loan repayment offerBitvavo, a Dutch crypto exchange with $297 million stuck on DCG's lending company, has rejected a partial repayment offer.
Read more »
Crypto exchange Coinbase to cut nearly 1,000 jobsCoinbase Global Inc said on Tuesday it will reduce its workforce by about 950 employees as part of a restructuring plan, in a third round of layoffs for the cryptocurrency exchange since last year.
Read more »
Crypto Exchange Operator Bithumb Investigated by South Korean Tax Authorities: ReportThe former chairman of Bithumb Holdings, which operates a crypto exchange in the country, was recently acquitted of fraud charges.
Read more »
Crypto exchange Gemini's Winklevoss urges removal of DCG CEO Barry SilbertCrypto exchange Gemini’s cofounder Cameron Winklevoss on Tuesday called for the removal of Digital Currency Group’s chief executive Barry Silbert.
Read more »