Bitvavo said that the repayment of just a part of the outstanding amount is 'not acceptable.'
Dutch Crypto Exchange Refuses DCG’s Offer to Pay 70% of its DebtBitvavo said that the repayment of just a part of the outstanding amount is “not acceptable.”
However, the company refused the offer citing that the crypto conglomerate has sufficient funds available for full repayment. Digital Currency Group is currently under investigation by the US Department of Justice’s Eastern District of New York as well as the Securities and Exchange Commission . The focus is on the internal transfers between the company and its troubled subsidiary – crypto lending firm – Genesis Global Capital.
It halted withdrawals on November 16th, citing liquidity issues, and has been involved with investment bank Moelis & Company for restructuring purposes.$900 million to the crypto exchange Gemini. The two platforms jointly operated together a product called Gemini Earn, which enabled users to earn 8% interest on their loans.
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