Luno’s sister company declares bankruptcy — what it means for South Africans

This is in stark contrast to Gemini, the major cryptocurrency exchange founded by Cameron and Tyler Winklevoss.

Genesis Global Capital listed the same range, $1 billion to $10 billion, for both assets and liabilities, as well as over 100,000 creditors — the top 50 unsecured claims amount to about $3.4 billion . Digital assets have shed about $2 trillion since a peak in 2021, and many crypto lenders have struggled in the selloff.

DCG, a linchpin of the crypto industry, said on 17 January that it’s suspending quarterly dividends to preserve cash.The Grayscale Bitcoin Trust, the world’s largest crypto fund, has been trading at a steep discount to the amount of cryptocurrency it holds, leading vexed shareholders to call for changes.

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