Digital Currency Group

DCG said on Friday it had completed its repayment of short-term loan obligations to Genesis, but a new court filing Monday claims otherwise

DCG has now repaid a total of more than $1 billion in debts to creditors

Genesis and Gemini’s Earn program operated as an investment contract, New York Attorney General Letitia James alleges

Gemini believes that Gemini lenders will not “receive anything close in real value” under current terms

Genesis is seeking to recoup $500 million and 4,550 BTC from DCG and DCGI

In its lawsuit, Gemini cited a number of other prolonged measures it took before resorting to legal action against DCG

Gemini co-founder Cameron Winklevoss wants DCG to pay up in US dollars, bitcoin and ether — or else face a lawsuit

Genesis, Gemini and other stakeholders are weighing whether to allow DCG more time to stave off a potential default

Michael Kraines stepped down as DCG’s chief financial officer

Genesis has initiated a 30-day mediation process with DCG, UCC, Creditor Committee and Gemini to reach a final resolution as soon as possible

DCG says that the creditors who reneged on the previous deal “raised all new demands”

Luno has asked Singapore-based users to withdraw their crypto and fiat currencies from the platform before June 19

The crypto lender reportedly warned investors about filing for bankruptcy if it couldn’t line up sufficient financing

US equities and a bitcoin are testing the top of their medium-term range as traders hope for a ‘soft landing’

Now that Genesis is considering bankruptcy, hopes of returning $900 million to lending partner Gemini are shrinking

Despite all the bad news, crypto startups are still securing funding rounds as the bear market stretches into its second year

Crypto investment product AUM declined close to 15% in November

While GBTC’s discount crossed a record 50% Monday morning, Grayscale is unlikely to act, industry watchers say

The move by Genesis does not affect its other business lines, including crypto trading

BitMEX reduces headcount amid refocus on crypto derivatives while Dapper Labs cuts staff by 22%

Capital to focus on support for gaming, infrastructure, decentralized finance, content and creators

Digital Currency Group, Multicoin Capital, Reciprocal Ventures, gumi Cryptos Capital, NGC Ventures and HashKey provided the capital to accelerate growth on The Graph

“We are looking forward to leveraging the funding to improve access to blockchain technology in an ever growing list of countries across the world,” Marieke Flament, NEAR Foundation CEO said in a statement

This new debt capital raise comes shortly after DCG raised $700 million in the beginning of November, at a $10 billion valuation.