DCG proposes repayment plan for Genesis creditors
Digital Currency Group (DCG), the parent company of the insolvent crypto lending firm Genesis, is pushing for a repayment plan for its creditors , which includes participants in the Gemini Trust Co.’s Earn program. In a filing on Wednesday, Sep. 12, DCG assured Gemini Earn program investors that they could potentially receive complete reimbursement, equal to or even exceeding their initial investment. pic.twitter.com/vw4ONdHB0u — Digital Currency Group (@DCGco) September 13, 2023 Partial repayments will be made in Bitcoin (BTC) and Ethereum (ETH). The filing also indicates that other unsecured creditors of Genesis could potentially recover between 70% and 90% of their investments, which stands as a notable improvement compared to the expected payouts to customers of other insolvent crypto services like Voyager Digital and BlockFi Inc. You might also like: Genesis suing DCG to recover $620m in outstanding loans This suggestion comes as part of ongoing effor...