US-based investment and financial services company Houlihan Lokey, a crypto commission startup on the verge of bankruptcy Genesis and the parent company DCG, presented a solution proposal on behalf of the creditors for the liquidity crisis.
Cameron Winklevoss, co-founder of Gemini, which is among the 10 largest cryptocurrency exchanges, shared on his Twitter account. Gemini Earn made a statement on how to save the assets of its users.
Earn Update: Today, Houlihan Lokey presented a plan on behalf of the Creditor Committee to resolve the liquidity issues at Genesis and DCG and provide a path for the recovery of assets.
— Cameron Winklevoss (@cameron) December 20, 2022
“Earn Update: Today Houlihan Lokey presented a roadmap on behalf of the creditors committee to resolve Genesis and DCG’s liquidity issue.”
Winklevoss underlined that he obtained this critical information from important sources. According to the Gemini co-founder, the creditor committee will receive an initial response this week.
The giant exchange set up a creditors committee on December 6 after the Gemini Earn system was disrupted by Genesis. According to unofficial information, Genesis owes Gemini Earn users $900 million. Genesis, on the other hand, is a creditor of $1.6 billion from its parent company DCG.
Digital Currency Group (DCG) is the largest traded stock market. bitcoin It is also the parent company of Grayscale, which manages GBTC, a futures fund. The problem caused by Genesis also causes great pressure on Grayscale’s BTC fund. For this reason, it is extremely important to solve the problems in order to calm the uneasiness in the market.
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