Bitvavo Rejects DCG’s Compensation Plan, Demands $300M Back

0 0

Bitvavo Rejects DCG's Compensation Plan, Demands $300M Back
iHodl.com

Dutch cryptocurrency exchange Bitvavo said in a recent blog post it has received a proposal from Digital Currency Group (DCG), offering to refund at least ±70% of $300 million locked on DCG.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

However, the exchange decided to reject this offer, saying that DCG has “sufficient funds available for full repayment.” Bitvavo noted that just like Gemini — which is demanding the removal of DCG boss Barry Silbert and wants to recover $900 million blocked on Genesis — it hopes that the venture capital giant will find a solution, which will be the “satisfaction of all concerned.”

Bitvavo once again reassured its users, saying that problems at DCG do not impact its services. The Netherlands-based trading platform was using DCG’s services for staking crypto until the venture capital giant faced issues due to liquidity crunch at its subsidiaries.

DCG-backed Genesis Starts Accepting NFTs as Collateral for Loans

Gemini Earn, a lending arm of Gemini, halted withdrawals in November last year shortly after its partner Genesis started experiencing liquidity issues. So far, neither DCG nor Genesis provided creditors with a timeline on when exactly they plan to resolve liquidity issues.

Access more than 50 of the world’s financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Источник: ru.ihodl.com

Оставьте ответ

Ваш электронный адрес не будет опубликован.