Cryptocurrency

Bitvavo rejects DCG’s 70% repayment proposal

Hull Invest

Cryptocurrency exchange Bitvavo has rejected an offer by Digital Currency Group (DCG) to pay off 70% of its debt, according to Jan. 10. statement.

Bitvavo claimed to be confident they can find a solution that satisfies all parties.

Debt servicing will not be affected by the reported DCG investigation or the possible bankruptcy of cryptocurrency lender Genesis, according to the Netherlands-based company. However, the process may affect your repayment timeline.

Bitvavo did not respond to CryptoSlate’s request for comment at press time.

Bitvavo has over $300 million (€280 million) locked in DCG.Exchange Said We use DCG’s services to provide off-chain staking services to our clients.

Bitvavo clients, on the other hand, are unaffected. According to the exchange, clients can withdraw their digital assets at any time as they are assuming the risk.

DCG is currently facing intense scrutiny due to its financial position. Gemini co-founder Cameron Winklevoss has called for CEO Barry Silbert to be fired.

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