DCG objects to Genesis' bankruptcy plan, saying proposed payments to customers exceed statutory amounts
Digital Currency Group (DCG) opposes the bankruptcy plan of its subsidiary Genesis Global Capital, stating that the proposed amount to be paid to customers exceeds the statutory amount.DCG believes that Genesis should pay customers and creditors based on the value of the cryptocurrency assets in January 2023. Genesis has proposed additional payments to customers to account for the rise in asset prices, which DCG believes violates US bankruptcy law.Genesis and Gemini Trust have failed to reach a settlement with DCG. The SEC has sued Genesis and Gemini Trust for illegally selling securities to investors.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Zhu Su: ETH has been received at $3090 and SOL has been received at $211
Trump says Musk's efficiency group will release work report