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Digital Currency Group (DCG) settles Genesis debt. Besides settling Genesis’s debt, DCG has repaid a total of $1B to its creditors. Memeinator’s MMTR token presale has raised $3.2M in its eleventh stage. Digital Currency Group (DCG) has achieved a significant financial milestone by fully clearing its short-term debt, including the debt it owed the bankrupt Genesis subsidiary. Simultaneously, the crypto space is buzzing about Memeinator and its MMTR token presale, aiming to capitalize on the meme coin mania. DCG settles Genesis debt The short-term debts resolved by Digital Currency Group included a substantial repayment of $1 billion to creditors and a staggering $700 million directed towards Genesis. This strategic move ensures stability for DCG amid ongoing bankruptcy proceedings and underscores the company’s commitment to responsible fiscal management. The debt settlement follows a lawsuit initiated by Genesis in September, seeking the...

Ark's GBTC weight in the portfolio actually increased despite the fund selling 500,000 shares in the past month. Cathie Wood's Ark Invest offloaded a chunk of its Grayscale Bitcoin Trust (GBTC) shares since November's Bitcoin (BTC) price lows, the latest data shows. Cathie Wood's Ark short-term cautious on GBTC Ark Invest added 450,272 GBTC share s worth $4.5 million to its ARK Next Generation Internet ETF (ARKW) in November 2022. At the time, GBTC was trading in the $7.46-$9.48 range versus $12.25 in January 2023. GBTC price, of course, recovered alongside Bitcoin, rising roughly 40% from its November lows. The recovery in January also helped reduce the GBTC "discount" from nearly 50% to 40%, according to YCharts. GBTC daily price chart. Source: TradingView Interestingly, the share price rebound coincided with a reduction in ARKW's GBTC holdings by 500,000 shares, suggesting profit taking in the short term. GBTC shares (purple) in Ark's ETF versus it...

Digital Currency Group’s ongoing financial distress isn’t likely to cause much further strain on crypto prices, said Novogratz. Galaxy Digital Holdings CEO Mike Novogratz hosed down fears over the crisis facing Digital Currency Group (DCG) and Genesis saying while it’s “not good news,” it won’ t “ include a lot of selling .” In a Jan. 10 interview on CNBC’s Squawk Box Novogratz said he expects the current debacle facing DCG and its related companies to “play out” over the next quarter. "The outlook for #crypto is not horrible but it's not great. We've got regulatory headwinds we didn't have before. People are going to cut costs and survive this transition period," says @novogratz. "Crypto is not going away. It's a pretty clean market right now." pic.twitter.com/k57ITlRFOV — Squawk Box (@SquawkCNBC) January 10, 2023 “There are still some overhangs — DCG and Genesis and Gemini — that will play out in the next quarter. That’s not going to be g...