The Dutch crypto exchange rejects DCG's offer to pay 70 % of its debts

The Dutch crypto exchange rejects DCG's offer to pay 70 % of its debts

The Dutch crypto tour Bitvavo stated that on January 9th by receiving an offer from the Digital Currency Group (DCG) to repay 70 % of its debts within an acceptable period.

The company, however, refused to ensure that the crypto conglomerate had sufficient funds for a complete repayment.

• The development takes place days after the trading platform has announced that it is actively involved in discussions with DCG in order to collect the resulting debts together with other creditors and consultants.
• The official explanation was

"The remaining amount is still being discussed with DCG, since they are only ready to repay part of it within a period of acceptable period. The latter is not acceptable as a creditor, since the DCG has sufficient resources for full repayment."

• The Digital Currency Group is currently being examined by the Eastern District of New York of the US Justice Ministry and the Securities and Exchange Commission (SEC). The focus is on the internal transfers between the company and its difficulties in difficulties-the crypto loan company-Genesis Global Capital.
• The persistent financial hardship was encouraged by the fact that genesis became one of the companies affected by the FTX attachment.
• It stopped the withdrawal on November 16, citing liquidity problems and was involved with the Moelis & Company investment bank for restructuring purposes.
• It was previously reported that genesis of the Gemini crypto exchange owes $ 900 million. The two platforms jointly operated a product called Gemini Earn, with which users could earn 8 % interest on their loans.
• Gemini also accused DCG not to repay Genesis, which in turn led to the failure of payments to his customers.
• since the disorder, Barry Silbert, the head of the DCG, was under enormous counter -reactions. Cameron Winklevoss, the co -founder of Gemini, claimed that Silbert was not ready to find a solution, and even demanded that the board put it as CEO.

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