NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

DCG And Gemini Ink A Plan: Users To Receive All Their Crypto?

Reynaldo Marquez
Reynaldo Marquez
1 year ago
2 mins read
Gemini DCG BTC BTCUSDT

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Per a report from TheBlock, Digital Currency Group (DCG) reached an agreement with crypto exchange Gemini. The two parties have been negotiating for months after the collapse of crypto lender Genesis, a DCG subsidiary, and the Gemini Earn program.

Related Reading

Gemini crypto exchange

Gemini Hits Back At SEC Lawsuit With Dismissal Filing

1 year ago

The event left thousands of users without funds, leading to several lawsuits and the destruction of the relationship between the Digital Currency Group and the trading venue. The founders of Gemini, Cameron and Tyler Winklevoss, were public about their negotiations and their objective of making their clients whole.

DCG And Gemini Could Exceed Expectations

The report claims that the partners proposed a new creditor agreement to return “all of the crypto held by the platform,” when it filed for bankruptcy protection. According to the report, the new strategy aims to compensate clients with the following strategy and methodology:

(…) all unsecured creditors a 70-90% recovery with a meaningful portion of the recovery in digital currencies.

In addition, unlike similar processes, the new agreement would allow users to benefit from a potential upside in the price of Bitcoin and Ethereum. If these cryptocurrencies rise to $85,000 for BTC and $8,500 for ETH, clients would still receive an equivalent amount.

In other words, clients will receive their funds as they were when Genesis filed for bankruptcy rather than freezing the amount in US dollars. Genesis’ parent company described the agreement as a:

(…) remarkable outcome for any liquidating chapter 11 case, let alone one in the volatile cryptocurrency industry.

TheBlock indicates that the new agreement is yet to be voted by creditors. The above clause, to allow clients to benefit from a potential crypto bull run, is aimed at incentivizing creditors to vote in favor of the proposal.

GBTC Gains Ease Recovery For Gemini Earn Users

DCG’s $630 million loan to provide respite for its subsidiary would be repaid in cash, partially, and via a financial instrument to be settled by 2025. In addition to this loan, Genesis owes over $1 billion to Gemini’s clients.

The report also notes that Genesis posted 60% of this amount as collateral as shares for the Grayscale Bitcoin Trust. The possibility of the US Securities and Exchange Commission (SEC) allowing the latter to convert into an exchange-traded fund (GBTC) has positively impacted its value.

Related Reading

PEPE

PEPE Market Cap Crosses $1 Billion As Gemini Listing Rumors Spread

1 year ago

Therefore, the discount between the GBTC and the spot price for Bitcoin has been declining and could continue to do so in the coming months for the benefit of Gemini Earn clients. The agreement stated as the report noted:

At current pricing, the Gemini User Collateral is worth approximately $607 million. If Gemini agrees to provide $100 million to Gemini Earn users under the Proposed Agreement, as it previously did, or to distribute even a small portion of the Gemini User Collateral to Gemini Earn users, there would be little doubt Gemini Earn users would receive a full recovery.

As of this writing, Bitcoin trades at $26,100 with sideways movement in the last few days.

Bitcoin Grayscale DCG Gemini
BTC’s price is moving sideways on the daily chart. Source: BTCUSDT on Tradingview

Cover image from Unsplash, chart from Tradingview

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

BTC Traders Remain Far From -12% Capitulation Zone – What Does This Mean?

Bitcoin recorded a slight 1.50% price gain in the past 24 hours, with prices now hovering within the $109,000 price...

Semilore Faleti 2 hours ago
Investeerders jagen 1000x hype – meme & AI tokens domineren

Investeerders jagen 1000x hype – meme & AI tokens domineren

De crypto hype rond meme coins en crypto AI tokens bereikt een nieuw hoogtepunt. Steeds meer investeerders jagen projecten na...

Lars Diederiksen 6 hours ago
Galaxy Digital Sells 1,167 Bitcoin Amid Ongoing Volatility

Galaxy Digital Sells 1,167 Bitcoin Amid Ongoing Volatility

Bitcoin is once again at the center of market attention, facing a decisive test after several days of heightened volatility....

Sebastian Villafuerte 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Risks Deeper Losses If $107,800 Line Fails To Hold – Details

Semilore Faleti 1 hour ago

5 Underrated Crypto Projects Bursting With Potential

NewsBTC 1 hour ago
Bitcoin price

Bitcoin Price Lags Below $110K — On-Chain Levels To Watch

Opeyemi Sule 12 minutes ago

Premium Sponsors

Press Releases

  • イーサリアム 今後の価格予測:50億ドル相当のビットコインがETHに移動、フリッペニングはついに実現するか?

    イーサリアム...

    9 minutes ago
  • 9月にパイネットワーク 価格は急上昇するか?初のヨーロッパETPと待望のPI暗号ニュースでPiコインが+8%上昇

    9月にパイネットワーク...

    25 minutes ago
  • 今買うべきミームコイン:9月に価値が跳ねる可能性

    ...

    2 hours ago
  • リップル 今後の価格予測:アルトコイン市場の新たな強気相場はXRPから始まるか

    リップル...

    2 hours ago
  • 新しい仮想通貨の挑戦、驚異的な資金調達で約1,300万ドル目前

    ...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.