A new agreement offered by Digital Currency Group (DCG), the giant investor in the cryptocurrency industry, includes a large refund plan for Gemini Earn users.
Digital Currency Group, in a deal filed as part of Genesis’ bankruptcy proceedings Gemini Earn to its users 95-110% offered a repayment plan. Unsecured creditors held by the platform 607 million dollars This payment transaction, which represents cryptocurrencies, is primarily carried out by creditors. will need to be approved.
Gemini, DCG and Silbert under the management of the Winklevoss brothers accused of defrauding customers and unpaid $1.46 billion debt He filed a lawsuit at the beginning of July because of this.
This agreement was recorded as the second agreement in principle offered by DCG. DCG Tuesday, August 29 In his application to the court on 24.02.2018, Genesis creditors were given to unsecured creditors within the scope of the agreement in principle. 70% with 90%, to secured creditors 90% with up to 110% It stated that the payment would be made at the rate
Affected by the chain bankruptcies in the cryptocurrency market last year, DCG managed genesishandles money withdrawals for its customers stopped completely and then filing for bankruptcy was found.