Gemini Associates proposes a $1.5 billion deferred payment and loan plan for the Genesis debt restructuring negotiations.
2023-07-04 02:52
Odaily News - Cameron Winklevoss, co-founder of Gemini, has posted the "Final Offer" for the debt restructuring negotiations of bankrupt digital asset company Genesis on Twitter. After months of negotiations and mediation, a deferred payment and new loan plan of $1.5 billion has been reached.
The document, titled "Best and Final Offer - July 3rd, 2023," outlines a plan that calls for a payment and loan of $1.465 billion denominated in US dollars, Bitcoin, and Ethereum, with a deadline of 4 pm local time on July 6th.
On Monday, Winklevoss posted an open letter to DCG founder Barry Silbert on Twitter. In the letter, Winklevoss expressed regret that DCG has failed to come up with a satisfactory plan to repay Genesis creditors, including customers of Gemini's Earn program. DCG has also failed to pay $630 million to Genesis. (CoinDesk)
The document, titled "Best and Final Offer - July 3rd, 2023," outlines a plan that calls for a payment and loan of $1.465 billion denominated in US dollars, Bitcoin, and Ethereum, with a deadline of 4 pm local time on July 6th.
On Monday, Winklevoss posted an open letter to DCG founder Barry Silbert on Twitter. In the letter, Winklevoss expressed regret that DCG has failed to come up with a satisfactory plan to repay Genesis creditors, including customers of Gemini's Earn program. DCG has also failed to pay $630 million to Genesis. (CoinDesk)
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