genesis
Genesis Capital Breaks Previous Quarter Record With 870M in New Loan Originations in Q3
Genesis records rising demand for cash and stablecoins
Ethereum Price Set to See Higher Gains as ETH 2.0 Beacon Chain Genesis Expected Soon
As the ETH 2.0 beacon chain genesis is coming to fruition soon, it could be a catalyst for Ethereum’s price surge. Here's why.
Genesis Mining Survey Finds Bitcoin Investors Believe in Safe Haven Value, Not $50,000 BTC Price by 2030
A survey by Genesis Mining reveals that while the majority of Bitcoin investors are sold on the crypto’s ability to replace gold, few are as confident of $50,000 per BTC by 2030.
FTX Seeks Court Approval to Sell $175M Genesis Claim Amid Bankruptcy Proceedings
FTX has filed a motion in Delaware court to sell a $175 million claim against bankrupt Genesis Global Capital, aiming to optimize returns from the sale. The move is part of FTX's broader strategy to manage its financial recovery post-collapse, with the proposed sales procedure designed to ensure maximum value from the claim amidst Genesis's ongoing legal and financial challenges.
DCG Completes Payment of Short-Term Debts to Dissolved Crypto Lender Genesis
Digital Currency Group paid up all short-term loans to Genesis, a previous bitcoin lending platform, as promised. DCG repaid $700 million in 2023 despite crypto sector woes. Genesis filed for bankruptcy in early 2023 after a withdrawal halt due to obligations of over $3.5 billion to its principal creditors. The bitcoin market is changing significantly with this development.
Genesis Agrees to $21 Million SEC Settlement in Bankruptcy Resolution Effort
Genesis Global settles with the SEC for $21 million over unregistered securities sales allegations, aiming to mitigate legal challenges and focus on repaying customers amid bankruptcy proceedings. The agreement, pending a February 14 hearing, marks a significant step towards resolving the company's financial and legal hurdles.
Crypto Broker Genesis Cuts 20% Workforce, CEO Michael Moro Stepping Down
Genesis is laying off 20% of its 260-strong workforce, and its CEO is leaving. The announcement comes after the firm lost money that it loaned to the insolvent hedge fund Three Arrows Capital.
Crypto Broker Genesis Says Lending Business Declined in Q2
Genesis blamed the fierce crypto downturn as the reason for the fall of its lending revenues. The company issued new loans worth $40 billion in Q2, a decrease of 9% from Q1.
Grayscale Launches New Crypto Dealer as Genesis Got Incapacitated With 3AC Bankruptcy
Grayscale Investments, one of the largest asset managers in the digital currency ecosystem has launched a new broker-dealer dubbed Grayscale Securities, recent filings with the United States Securities and Exchange Commission show
Genesis Capital's Settlement Disrupted by Creditors
Digital currency company Genesis Capital's settlement process has been disrupted by creditors, raising concerns about the timing of the process. Genesis' parent company, Digital Currency Group (DCG), has filed a motion for mediation, citing renewed demands from creditors.
Long-term Dormant Ethereum ICO Participant Activates $3.2 Million Worth of ETH
An Ethereum ICO participant re-emerged after 8.2 years of inactivity, transferring 2,000 ETH ($3.2 million) to four different addresses on October 21, 2023. Acquired at a mere $620 at the Ethereum Genesis, this move not only underscores Ethereum's substantial price appreciation but also hints at potential market dynamics as long-dormant assets re-enter circulation. The transaction could signal various intents, from cashing out to redistributing or reinvesting the holdings, each with its own set of implications for the Ethereum market.
DCG Challenges Genesis Capital's Bankruptcy Plan for Overcompensation
DCG opposes Genesis Global Capital's bankruptcy plan, citing legal violations and ethical concerns over asset valuation and creditor compensation in the volatile crypto market.
Decline in Cryptocurrency ATMs in 2023: A Global Perspective
In 2023, the global number of Bitcoin ATMs decreased by 11.1%, marking the first decline in a decade, with the U.S. being the largest host, contrasting with growth in the EU and other regions.
Digital Asset Lender Genesis Confirms Risks Exposure of 3AC's Insolvency
According to Bloomberg, Digital asset lending firm, Genesis Capital, said it would sell its collateral to hedge against bad debt risks if Three Arrows Capital fails to meet margin calls.
Bybit suspends USD bank transfers amid service outages
Dubai-based crypto exchange Bybit has temporarily suspended USD deposits via bank transfers due to "service outages from a partner." Users can still withdraw funds through wire transfers until March 10, but are encouraged to do so as soon as possible to avoid potential disruptions. Bybit has exposure to the bankrupt crypto lender Genesis Global Trading and claims all client funds are safe and secure.
Ethereum bulls awaken after four years to transfer 22,982 ETH.
Recently, two inactive accounts transferred 22,982 ETH to new addresses. Genesis and Poloniex ETH tokens transferred 13,103.99 ETH and 9,878 ETH, respectively. On transfer day, the asset cost approximately $1,200 per ETH.
Genesis settles with the SEC, agreeing to a $21 million penalty
Genesis Global Capital, LLC settles with the SEC, agreeing to a $21 million penalty for unregistered securities offerings through its Gemini Earn program.
Mysterious $1.17 Million Bitcoin Transfer to Bitcoin Creator Nakamoto Wallet
A recent transaction of 27 BTC to a Satoshi Nakamoto wallet has raised interest in the cryptocurrency community, particularly considering the Genesis Block's 15th anniversary. This event celebrates Bitcoin's history and raises questions about its future and originator.
Genesis and DCG seek asset recovery amid financial concerns.
Cameron Winklevoss, co-founder of Gemini, claims Houlihan Lokey is fixing liquidity difficulties. FTX's failure may have worsened Gemini's 20% personnel layoffs this year. Gemini started its US interest-earning program "Earn" in 2021.
Immutable's zkEVM Marches Towards Mainnet with a Series of Milestones
Immutable progresses towards the Mainnet launch of its zkEVM, underpinned by a series of strategic milestones and a growing gaming ecosystem. The journey encompasses a testnet launch, re-genesis, the imminent mainnet release, and future dedicated app chains and prover integration, setting the stage for a robust gaming arena on the Ethereum blockchain.
Genesis hires a bankruptcy avoidance specialist
GGC restructured. Moelis & Company is engaged. Voyager Digital declared bankruptcy on July 1, triggering ICO flood fears. Genesis Global Trading ceased lending. Insolvency and "unprecedented market turmoil" halted FTX. Grayscale Investments, Digital Currency Group's parent, predicts $800 million in 2022 sales.
Genesis Global Capital Moves to Liquidate $1.6 Billion in Grayscale Trusts Amid Bankruptcy
Genesis Global Capital has petitioned the U.S. Bankruptcy Court to sell off its Grayscale Bitcoin, Ethereum, and Ethereum Classic Trust holdings, totaling approximately $1.6 billion. This strategic liquidation aims to maximize creditor repayments amidst potential market volatility, following a recent SEC settlement.
Binance CEO CZ Alerts Users of Phishing Attacks Following Kroll Data Leak
Binance CEO CZ warns FTX, BlockFi, and Genesis of new phishing attacks linked to the Kroll data leak, citing an employee SIM swap. He emphasizes cybersecurity awareness and user vigilance in the cryptocurrency sector.
Pixlr to Launch NFT-based Art Gallery With a Collection of Unique AI-generated Art Pieces
Pixlr is launching Pixlr Genesis, a decentralized NFT-based art gallery on December 1, 2021, with a collection of 10,000 unique, AI-generated art pieces.
Genesis Coin Inc, Powering 35% of Global Bitcoin ATM Transactions, Acquired by Bitstop Founders
Genesis Coin Inc, the first and largest Bitcoin ATM software platform worldwide announced today that they have been acquired by early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo.
Genesis Digital Assets Raises $125M to Expand Bitcoin Mining Business
Digital asset lending firm Genesis Capital has raised $125 million in equity financing to expand its Bitcoin mining business, mainly in North America and Northern Europe.
Genesis Digital Assets Purchases 20,000 Bitcoin Mining Machines from China’s Manufacturer Canaan
American Bitcoin mining firm Genesis Digital Assets is purchasing additional 20,000 units of bitcoin ASIC miners from China’s Bitcoin mining hardware manufacturer Canaan Creative. The purchase will help Genesis to scale up its mining operations.
Canadian Fintech Firm Stablecorp Secures $1.5m from Crypto Leaders
Canadian fintech firm Stablecorp announced that it has secured $1.5 million in participation from crypto market leaders, including Circle Ventures, the issuer of USD Coin (USDC) in the Pre-Series A Funding Round.
Ethereum Releases Validator Launchpad for ETH 2.0 Testnet
Ethereum software developers finally released the validator launchpad for ETH 2.0, which enabled users to participate in the testnet’s Proof-of-Stake.
Ethereum Launches Final Testnet Before Officially Releasing ETH 2.0 Mainnet
The software developing team for Ethereum 2.0 has finally announced that they will be launching ETH 2.0’s testnet on August 4.
Genesis rejects bankruptcy plans
Genesis, a cryptocurrency loan startup, has denied reports that it is contemplating a "imminent" bankruptcy case. According to reports, the company had difficulty acquiring funds for its lending section and informed investors that it would have to declare bankruptcy. Genesis said on November 16 that withdrawals had been temporarily halted due to "unprecedented market turmoil" after FTX's demise.
Litecoin vs Bitcoin: Understanding Litecoin by Comparison with Bitcoin
Litecoin was created by Charlie Lee on Oct. 7, 2011, with its codebase is a fork from Bitcoin. In contrary from hard fork and soft fork, this type "fork" doesn't share the transaction history of Bitcoin and it had its own transactions beginning from its genesis block.
Ripple Whale Moves 40 Million XRP to Bitstamp Crypto Exchange After Being Dormant for Years
Blockchain analytics picked up an unusual Ripple transfer of 40 million XRP.
Ethereum Uncovers Blockchain Bugs to Stabilize Medalla Testnet
Ethereum developers discussed the technical issues that went wrong during the launch of Medalla testnet and that could have been improved to make the release smoother.
Ethereum Gathers Cybersecurity Team Dedicated to ETH 2.0 Final Testnet Launch
With the launch of Ethereum 2.0 testnet set to be released today on August 4 at 1 pm UTC, the Ethereum Foundation has been looking to build a security team that will be responsible for maintaining ETH 2.0.
Democratization of Digital Technologies: Crypto ATMs
Greater accessibility for everyday people to digital technology is the key to breaking the concentrated asset control of states and governments. To ensure a long and prosperous evolutionary life for blockchain technologies, a good diffusion signal can definitely be the increasingly growing installation, around the world, of Crypto ATMs. What they are and how they work?
Why Bitcoin Investors Shouldn’t Expect a Straight Moon Shot Over $20,000 Just Yet
Although the Bitcoin price gained 166% this year, the pioneer crypto has not yet produced the anticipated moon shot over $20,000 and investors could be in for a long wait.
Ethereum to Launch Another Testnet for ETH 2.0 After Spadina Fails to Achieve Finality
Ethereum developers announced that they will be launching another testnet next week, dubbed Zinken, following the low participation rate on Spadina.
Ethereum Price Surges as ETH 2.0 Launch Date Announced, $2 Million Ether Locked Up Within 2 Hours
After having suffered a strong dip in the past week, Ethereum managed to gain some bullish momentum and rallied to over the $400 mark.