The Genesis bankruptcy is about to take a high-stakes turn with a $630 million payment from Digital Currency Group (DCG) due by May 11. Barry Silbert’s DCG, the parent company of Genesis, is on the hook for the massive payment, but doubts are swirling as to whether the crypto conglomerate can cover it. Lumida Wealth CEO Ram Ahluwalia joins the show to unpack what could happen to Genesis creditors, Gemini Earn users, and the markets should DCG fail to cover its debt obligations.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights:
whether DCG will be able to pay its debt to the Genesis bankruptcy estate
the ways DCG can “plug the hole”
what the likelihood of DCG filing for bankruptcy is
how FTX’s intent to claw back $3.9 billion from Genesis would affect DCG
whether Gemini Earn customers will be made whole
why Ram says that asymmetric information has plagued the bankruptcy process
whether the creditors should accept the latest term sheet
how the Grayscale lawsuit against the SEC could impact DCG’s cash flow
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Guest
Ram Ahluwalia, CEO & Founder of Lumida Wealth
Previous appearances on Unchained:
Genesis May Be Facing Bankruptcy. Could It Take DCG Down With It?
Gemini vs. DCG Is Heating Up. Could Gemini Force Genesis Into Bankruptcy?
How Will the FTX Collapse Affect Silvergate? A Bear and a Bull Debate
How Is the Fed Going to Respond to the Banking Crisis?
Links
Unchained: FTX Moves to Claw Back $3.9 Billion From Genesis
Reuters: Crypto group DCG says bankrupt unit Genesis' creditors renege on deal
CoinDesk:
Genesis Files for Mediator Assistance Over Amount of DCG Contribution to Reorganization
DCG's CFO Steps Down as Crypto Conglomerate Repays $350M Loan
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