Search Results for: DCG

The mediation period between crypto lender Genesis and its creditors, including Gemini, takes a new turn as U.S. Bankruptcy Court Judge Sean Lane extends it until June 16 amid growing concerns over parent company Digital Currency Group’s (DCG) role. This comes after the multi-billion dollar collapse of Genesis’ borrower – crypto exchange FTX – and tensions rise as the case resolution remains far from being concluded.

Bitcoin’s price dropped to $25,500 after the SEC filed a lawsuit against Binance for allegedly violating federal securities laws. The potential impacts of the regulatory action are still being digested by investors, as market sentiment remains negative. Meanwhile, Bitcoin derivatives markets show a mixed reaction as the bear trend continues.

Elon Musk faces a proposed class action lawsuit by investors alleging manipulation of Dogecoin (DOGE) cryptocurrency, causing billions in losses. Meanwhile, private bank Xapo integrates with the SEPA network, and the US CFTC invites comments on risk management program changes.

Digital Currency Group (DCG) and CEO Barry Silbert request to consolidate two class action lawsuits over alleged losses during the crypto winter, arguing for judicial efficiency and to avoid conflicting decisions. The lawsuits involve allegations of securities fraud and a $1.1 billion implosion, potentially influencing the regulatory landscape for cryptocurrencies and future legal battles in the crypto sphere.

Gemini, the cryptocurrency exchange operated by the Winklevoss twins, files a motion to dismiss the SEC’s securities violation lawsuit, arguing that their loan agreements do not qualify as securities. The SEC accuses Gemini and Genesis Global of selling unregistered securities through their lending program, raising billions in crypto assets.

Gemini and Genesis push back against an SEC lawsuit filed over the Gemini Earn Program, requesting dismissal of the case. The issue has escalated into a major concern in cryptocurrency regulation, affecting the ongoing dispute over the appropriate degree of regulatory action in the crypto space.

Gemini Trust Co. and Genesis Global Capital jointly filed for dismissal of a lawsuit brought by the SEC, claiming their Earn product violated securities regulations. As Gemini aims to recover assets for Earn users, both companies continue working with regulators towards a settlement while upholding the importance of compliance and consumer protection in the crypto space.

Gemini and Genesis move to dismiss a SEC lawsuit alleging their Earn product offers unregistered securities. As users face difficulties, conflict between Gemini and parent Digital Currency Group adds to crypto industry’s regulatory uncertainty. Gemini plans a UK base amid growing US regulatory challenges.

Digital Currency Group (DCG) has announced the shutdown of its institutional trading platform, TradeBlock, due to crypto market downturns and a challenging US regulatory environment. The closure highlights the need to address challenges faced by crypto institutions while balancing innovation, market stability, and investor protection in an evolving landscape.

TradeBlock, a subsidiary of Digital Currency Group, is reportedly closing down due to factors including the crypto winter and challenging US regulatory environment for digital assets. This highlights the need for regulators and market participants to find common ground, balancing regulatory requirements with industry growth to tap into blockchain and cryptocurrency opportunities.

Digital Currency Group (DCG) is shutting down its trading and prime brokerage services unit, TradeBlock, on May 31 due to the ongoing crypto winter and regulatory uncertainties in the US. This closure highlights the challenges faced by crypto companies in the current economic and regulatory environment, emphasizing the need for adaptability and resilience in developing business models within the digital asset market.

Philippines regulators issued a warning to Crypto exchange Gemini over unauthorized derivatives exchange operations, raising concerns for crypto market businesses. As stricter regulations come into play, investors must stay informed and cautious, considering the complexities of the crypto market.

The Consensus 2023 conference and Congressional hearings discussed critical cryptocurrency issues, including policy developments and the unclear delineation between securities and commodities. Upcoming legislation and the 2024 presidential election’s impact on crypto policies remain key subjects, as the industry navigates regulatory complexities and continues to grow.