Barry Silbert addresses DCG shareholders

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Judge Michael Wiles gives the approval to disclose documents outlining various aspects of the proposed arrangement to sell Voyager assets to Binance.US. The agreement also requires consent from most of Voyager’s creditors and will be the subject of another confirmation hearing in March. In the beginning, Voyager agreed to sell itself to FTX, but once Sam Bankman-Fried’s exchange failed in November, the bidding process was reopened. Securities and Exchange Commission (SEC), state authorities, and others opposed the planned acquisition. Additionally, it was announced that the lender declared bankruptcy last year and would have its acquisitions reviewed by the Committee on Foreign Investments in the United States (CFIUS).

ConsenSys, the company responsible for creating the cryptocurrency wallet MetaMask, intends to let go of at least 100 employees. Approximately 900 people work for the New York-based corporation at the moment. Since April of last year, the industry has shed, according to CoinDesk, close to 27,000 employees. There are 900 or so people working for the Ethereum studio in New York City right now. Similarly, as part of the restructuring, Coinbase intends to eliminate about 950 positions by the end of the second quarter. The restructuring is anticipated to cost the corporation between $149 million and $163 million, including $58 million in cash expenses for employee severance.

Kunji research crypto market update

The CEO of Digital Currency Group (DCG), Barry Silbert provided information regarding how his company’s Genesis Capital lending division was forced to restrict client withdrawals following FTX’s collapse. Barry Silbert entered the debate around Genesis and its client Gemini, the Winklevoss twins’ cryptocurrency exchange. Genesis’ loan division stopped allowing withdrawals in November, locking up money that belonged to Gemini’s Earn product investors.

At the company’s current share price of $188, Group One Trading holds almost 1.3 million shares of MicroStrategy (MSTR), or 13.5% of the total outstanding shares. When someone owns more than 132,500 bitcoins, they are referred to as a bitcoin proxy, which enables traders to make predictions about the future of the cryptocurrency.

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