1 year ago
Crypto speech Bitvavo rejected Digital Currency Group’s (DCG) connection to repay 70% of its indebtedness due to the fact that the embattled steadfast has capable funds to marque afloat repayment, according to a Jan. 10 statement.
Bitvavo maintained that it was assured that a solution could beryllium recovered to fulfill each the acrophobic parties.
According to the Netherlands-based company, the indebtedness repayment would not beryllium affected by the reported investigations into DCG nor the imaginable bankruptcy of crypto lender Genesis. However, the process could interaction the repayment timelines.
Bitvavo did not respond to CryptoSlate’s petition for remark arsenic of property time.
Bitvavo has implicit $300 cardinal (€280 million) locked with DCG. The speech said it uses DCG’s services to connection off-chain staking services to its clients.
Meanwhile, Bitvavo clients are not impacted by the fallout. According to the exchange, its clients tin retreat their integer assets anytime due to the fact that it has assumed the hazard connected their behalf.
DCG is presently facing heightened scrutiny due to the fact that of its financial situation. Gemini co-founder Cameron Winklevoss has called for the removal of its CEO Barry Silbert.
The station Bitvavo rejects DCG’s 70% repayment proposal appeared archetypal connected CryptoSlate.
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