#digital currency group

Digital Currency Group (DCG), the parent company of the insolvent crypto lender Genesis, has officially opposed the client compensation plan.DCG's critique centers on the belief that the proposed method for asset reimbursement excessively surpasses the initial debt value.

New York Attorney General Letitia James has filed a lawsuit against major cryptocurrency firms, including Gemini, Genesis Global Capital, and Digital Currency Group, accusing them of a $1 billion fraud.

Under the leadership of Tom Farley, ex-President of NYSE, Bullish, an institutional crypto exchange, has officially taken ownership of the news platform CoinDesk from Digital Currency Group. Investment plans are in place for CoinDesk, though details remain under wraps.

The decision comes as its parent company, Digital Currency Group (DCG), is in talks to bring in strategic investors. CoinDesk's CEO, Kevin Worth, described the move as necessary for a "financially sound business" and to facilitate the sale of CoinDesk Inc. This layoff affects 20 individuals, making up almost half of the editorial team. Earlier reports suggested CoinDesk was close to a $125 million deal led by crypto investor Matthew Roszak of Tally Capital.

CoinDesk is a media asset of the Digital Currency Group, whose financial situation leaves much to be desired. "I would like to figure out how to get to journalistic integrity again," Hoskinson explains his motives in a live YouTube stream. Cardano expects the price of CoinDesk will be around $200 million. The Cardano ADA token is one of the top ten cryptocurrencies on CoinMarketCap with a market cap of about $11.7 billion.