Genesis Global Holdco, which filed for bankruptcy protection last month, released the final details of a proposed plan that, along with Genesis Global Trading, would sell itself to help the head office, Digital currency Group, repay some of the company's creditors.
Under a proposal submitted to the bankruptcy court on Friday, DCG will hand over its stake in Genesis Global Trading to Genesis Global Holdco as part of its efforts to sell the two companies and restructure current loans.
WJB, both subsidiaries of DCG, first reported on Monday that the two companies had discussed a deal.
One of the milestones in the sale process will undoubtedly be the "equalization" of Genesis assets, which will be unanimously approved by Genesis, GGC creditors, additional group consultants and DCG.
"Equalization" means that if the entire sale process does not result in the sale of all or most of the property of Genesis, GGC creditors will receive a 100 per cent stake in the restructured GGH under the newly revised plan, subject to the dilution of the executive incentive scheme, which may be carried out after notification and hearing with the permission of the bankruptcy court, "the document said.
Polkadot was launched in May 2020. In a market dominated by Bitcoin and Ethereum, it quickly established itself as the next generation blockchain. The scale and interoperability problems limit Bitcoin's ability to transfer value without the assistance of
For some newcomers to the currency circle, they are not familiar with the investment in the currency circle, and their understanding of the special currency is not very deep. Therefore, they may be at a loss in the choice of investment methods. Many inves
Lummis is a well-known crypto advocate on Capitol Hill with over $100,000 in crypto.
Several analysts argue that shrimp accumulation is good for the Bitcoin network because it makes the asset more decentralized over time.
ARK Invest filed for a spot Bitcoin ETF in collaboration with 21Shares long before BlackRock did, and its application is reportedly first in line for the SEC’s approval.
Interestingly, the price surge was on the back of increased activity from whales, as indicated by on-chain data. The increased activity led to an increased"/>
Recent market dynamics have seen Solana struggling to break above the $200 mark. A notable bearish factor among these market fundamentals is the recent"/>
DOGE, the internet's favorite memecoin, is back in the spotlight. Recent data reveals a surge in futures market activity, coupled with bullish technical"/>
The recent stratospheric rise of Bitcoin, reaching a new all-time high of $73,000, has sent ripples of excitement and trepidation through the crypto world."/>
Co-founder of Tornado Cash Roman Storm has filed a motion to dismiss the charges levied against him by the US Department of Justice (DOJ)."/>
On Thursday, March 28, a hack occurred on Prisma Finance, a decentralized lending protocol on the Ethereum network. The exploiter carted away about 3,257.7"/>
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.
Tue, 18 Apr 2023