1. Dutch Bitcoin Exchange Bitvavo Alleges Digital Currency Group Is Having ‘Liquidity Problems’
📰 Dutch cryptocurrency exchange Bitvavo says it has EUR 280M stuck with Digital Currency Group (DCG)
📰 Bitvavo assured customers that the situation “does not have any impact on the Bitvavo platform.”
📰 Bitvavo claims that DCG is “experiencing liquidity problems due to the current turbulence in the cryptomarket” and that DCG “has suspended repayments until this liquidity issue has been resolved.”
https://finance.yahoo.com/news/dutch-bitcoin-exchange-bitvavo-alleges-220933875.html
2. Gemini's Creditor Committee Presents Plan to Resolve Genesis, DCG ‘Liquidity Issues’
📰 A creditor committee, which includes crypto exchange Gemini, has presented a plan to resolve the “liquidity issues” currently plaguing Genesis and its parent company Digital Currency Group (DCG), and to “provide a path for the recovery of assets.”
📰 Genesis and its parent company DCG reportedly owe users of Gemini Earn $900M.
3. Community Fears DCG is Selling as Altcoins Values Tank Massively
📰 Several altcoins experienced an aggressive sell-off last week.
📰 The crypto community is speculating that Digital Currrency Group (DCG) is behind the market wide red candle.
https://beincrypto.com/community-fears-dcg-is-selling-as-altcoins-values-tank/
4. Crypto Founders And Bitcoin Moguls Lost $116 Billion In 2022
📰 Among the crypto founders and Bitcoin moguls who lost a combined value of $116 Billion in 2022, Barry Silbert, head of crypto conglomerate Digital Currency Group, is one of the biggest losers.
📰 Private crypto firms that raised capital in 2021 or earlier this year at high valuations are being traded at significant markdowns on secondary markets and in over-the-counter deals.
5. Japan to lift the ban on foreign stablecoins like USDT in 2023
📰 Japanese regulators are reconsidering some major cryptocurrency restrictions related to the use of stablecoins like Tether (USDT) or USD Coin.
📰 The Financial Services Agency (FSA) of Japan will lift the ban on the domestic distribution of foreign-issued stablecoins in 2023.
📰 The new stablecoin regulations in Japan will allow local exchanges to handle stablecoin trading under condition of asset preservation by deposits and an upper limit of remittance. “If payment using stablecoins spreads, international remittances may become faster and cheaper,” the report notes.
https://cointelegraph.com/news/japan-to-lift-the-ban-on-foreign-stablecoins-like-usdt-in-2023-report
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