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The company is also looking to stretch the $630 million loan deadline. As part of the restructuring, DCG offered Genesis creditors special company stock against a $1.1 billion note due in 2032. The downtick in crypto price also saw the company wind down its wealth management business earlier in January in a strategic attempt to reduce expenses.ĭCG must now sell more Genesis assets to shore up its cash flow and hopefully refinance a promissory note given to Genesis, the lender of Three Arrows Capital ( 3AC) bankruptcy claims. According to the Wall Street Journal, however, the firm’s assets have been devalued by a stark margin amid the declining cryptocurrency prices. It happened that DCG borrowed around $500 million from Genesis in 2022 when its annual cash flow was around $1 billion. DCG To Refinance Genesis Or Face The Consequences The news comes after a January filing of Chapter 11 protection by Genesis Capital, a bankruptcy filing that saw the firm pause withdrawals and loan origination.

Former Coinbase CTO Balaji says it’s reckless for the Fed to print trillions of dollars to help rescue collapsed banks.ĭigital Currency Group ( DCG ), a cryptocurrency conglomerate, risks defaulting on its obligations if it fails to pay or restructure a $630 million owed to Genesis between May 9 and May 11.

The company cites a stark drop in crypto prices overtime that has devalued his assets,.

Digital Currency Group risks a $630 million default if it fails to reimburse Genesis between May 9 and 11.Yearn.finance deploys users’ funds in other DeFi protocols, such as Aave, Compound and dydx in order to consistently offer the highest interest rates on the market.Join Our Telegram channel to stay up to date on breaking news coverage Its main product is decentralized lending, but it also offers decentralized insurance and yield farming products.

Yearn.finance has been around since the early days of DeFi.

The platform specializes in stablecoin assets, making tokens like DAI and USDC extremely easy to transfer with low slippage and fees. It’s similar to Uniswap in that it’s an automated market maker (AMM), but it also hosts other valuable functions.

Curve is the backbone of many other DeFi platforms.

This tokenized asset represents major DeFi platforms, so you don’t need to pick and choose your DeFi investments individually.

DeFi Pulse Index can be bought on Uniswap, and it’s essentially a DeFi ETF.

Instead, the smart contract protocol interacts directly with users’ Ethereum wallets, creating a trustless, permissionless and secure way to exchange cryptocurrency. Uniswap lets anyone trade cryptocurrency without a centralized exchange that holds their funds. Uniswap is the leading decentralized exchange (DEX) on Ethereum.Aave users can deposit their crypto to savings accounts to earn interest, and they can also take out collateralized loans to leverage their crypto positions. Of all the DeFi platforms in existence, Aave has the most cryptocurrency managed on its platform by far. Aave is seen by cryptocurrency enthusiasts as the world’s bank.It is powered by the Polygon blockchain and it provides unprecedented levels of accessibility to real estate. It enables you to invest in professionally managed, high quality real estate with as little as $1,000. HoneyBricks is the premier platform for investing in tokenized real estate.