Dutch exchange Bitvavo rejects DCG’s proposal to repay 70% of debt
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Cryptocurrency exchange Bitvavo, a major creditor of the troubled crypto company Digital Currency Group (DCG), has dismissed DCG’s proposal of partial debt repayment.
Bitvavo officially
DCG and Genesis are among the major crypto industry companies affected by the massive contagion following the collapse of the FTX crypto exchange in November 2022. The situation became more precarious for DCG after the United States Department of Justice reportedly launched an investigation against the firm in cooperation with the Securities and Exchange Commission.
On Jan. 10, DCG’s Silbert wrote a public letter to shareholders defending his decisions and providing details of several loans from Genesis and relationships with firms like Three Arrows Capital.
