Bitcoin and ether remain resilient, even after crypto lender Genesis filed for Chapter 11 bankruptcy protection as traders say the news was already priced in. bitcoin ether crypto markets genesis
Cameron Winklevoss threatened to sue DCG CEO Barry Silbert over the repayment of a $900 million loan
in a tweet published just minutes after Genesis filed for Chapter 11. The tweet comes after Winklevoss waged a Twitter war against DCG to recover the loan amid his exchange’s own struggles. Winklevoss called Genesis' bankruptcy a “crucial step” toward recovering Gemini users’ assets. But he still intends to sue Silbert and Genesis’ parent company, DCG, unless Silbert makes a"fair offer" to DCG's creditors.after the Genesis bankruptcy news hit the wires.
Cycles comprised a 12-month-long bear market that ended 15-17 months ahead of the halving, paving the way for a three-year uptrend."The conditions are ripe for a breakthrough in 2023 that could catalyze a new bull market. We are excited by the growth of layer 2 solutions, the development of ZK-rollups and privacy solutions, and many other emergent capabilities of crypto," Bitwise's analysts led by Chief Investment Officer Matthew Hougan wrote in a review of the fourth quarter.
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DCG's Subsidiary Genesis Global Files for Chapter 11 BankruptcyGenesis' attempts to stay afloat fails.
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Crypto lender Genesis files for Chapter 11 bankruptcyGenesis Global filed for bankruptcy protection in New York. The firm has estimated liabilities of $1 billion to $10 billion with estimated assets in the same range.
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Bitcoin (BTC) Dips Lower as Genesis Prepares to File for BankruptcyGenesis Global Capital is navigating a precarious financial situation, with bankruptcy looming as the likely outcome if it does not secure the liquidity necessary to stay afloat
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Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis – Bitcoin NewsAccording to a shareholders' letter from Digital Currency Group (DCG), the company said it has suspended dividends until further notice.
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Bitcoin (BTC) Reacts to Genesis’s Bankruptcy FilingGenesis Global has now filed for Chapter 11 bankruptcy protection after a series of tumultuous events have caused severe liquidity issues for the troubled crypto brokerage
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Bitcoin, Ether Hold Steady After Genesis' Bankruptcy, Crypto Traders Say Bad News Was Priced InThe path of least resistance for crypto is on the higher side, one observer said, drawing attention to bitcoin's tendency to carve out double-digit gains during the Chinese New Year holidays.
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