Dutch Crypto Exchange Says Digital Currency Group in Talks With Creditors
- Bitvavo says DCG offered to refund 70% of outstanding debt
- Exchange says it rejected offer because DCG can pay in full
Barry Silbert, founder and chief executive officer of Digital Currency Group Inc.
Photographer: Joe Buglewicz/BloombergThis article is for subscribers only.
Genesis parent Digital Currency Group is negotiating with potential creditors to repay parts of its outstanding debt, according to a Dutch crypto exchange which says it is owed money by the digital-asset conglomerate.
DCG made a proposal to refund at least 70% of its outstanding 280 million euro ($300.7 million) debt to exchange Bitvavo, the latter said in a blog post on Tuesday. It has rejected the offer because it believes DCG has enough funds to repay them in full.