(Reuters) – Digital Currency Group (DCG) said on Tuesday some creditors of its bankrupt unit Genesis Capital have decided to walk away from a prior restructuring agreement for the cryptocurrency lender.
DCG, a conglomerate in the digital asset space, had been looking to sell Genesis to repay some of the $3.4 billion, at a minimum, it owes creditors.
It had, just two months, struck a deal that could have either resulted in a sale of Genesis or turned its equity over to creditors.
Since then, some creditors have since raised new demands, said DCG, which also owns the crypto news website, CoinDesk, and digital asset manager Grayscale.
“We will weigh any new demands against the concessions we have previously made,” it said.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Savio D’Souza)
