The collapse of the crypto exchange Genesis had set a bad sentiment in the markets. Currently, the bankrupt crypto exchange will have another sore tooth with the upcoming court case. The legalities are yet to decide the course of repayment to creditors that Genesis needs to follow. A Bloomberg report suggests that Genesis might face troubles with the court case due to existing disagreement with its parent parent company DCG.
Genesis-DCG Disagreement Likely to Dent Crypto Exchange’s Court Case
Bloomberg in its report highlights that as it requests court clearance for the division of billions of dollars in assets among creditors, bankrupt cryptocurrency lender Genesis Global Capital is up against an unexpected foe. Its corporate parent, Barry Silbert’s Digital Currency Group could have a bone of contention over the repayment method suggested by Genesis.
Bloomberg further highlights that Genesis and DCG are scheduled to square off in court on Monday in White Plains, New York. The curr
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