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Grayscale and DCG Object to Genesis’ $1.6B Trust Shares Liquidation Plan
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On February 12, Digital Currency Group (DCG) and Grayscale raised objections to bankrupt lender Genesis’ plan to sell off its assets. This includes shares in Grayscale’s Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG), amounting to around $1.6 billion.
DCG, the bankrupt lender’s parent company, argued that Genesis’s reasons for selling the assets were unfounded.
On February 2, defunct crypto lender Genesis submitted a motion as part of its bankruptcy proceedings. The firm requested judicial approval to sell specific trust assets valued at around $1.6 billion.
Grayscale, DCG stand against Genesis plan to liquidate $1.6 billion in trust shares
— Coinvestors
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