DCG | Jotup

Luno Announces Leadership Transition

Retrieved on:

Wednesday, March 22, 2023

Luno, a leading cryptocurrency wallet and exchange serving customers across 40 countries, today announced a series of strategic initiatives to position the company for its next phase of growth.

Key Points:

Luno, a leading cryptocurrency wallet and exchange serving customers across 40 countries, today announced a series of strategic initiatives to position the company for its next phase of growth.
“With James at the helm and strategic partnership from Marcus in his new role as Executive Chairman, we look forward to supporting Luno in its ambitious and continued growth journey.”
Luno is a wholly owned investment of DCG.
As one of the most preeminent digital asset investors, DCG acquired Luno in 2020 post their Series B funding round and after first investing in the company’s seed round in 2014.
Providing capital, strategic guidance, and other resources to evolve its business model, DCG supported Luno scaling to $100 million revenue with a 40 percent operating margin and more than 11 million wallets across 40 countries.

DCG Acquisitions, A Dave Cantin Group Company, Closes Fletcher Jones Auto Group Acquisition of Largest Toyota Dealership in Carson, California

Retrieved on:

Monday, February 27, 2023

Finance, Consulting, Professional Services, General Automotive, Automotive, DCG, Fletcher Jones, Acquisition, Toyota, Multimedia, Motion, Financial services, Automotive industry, Sales

The Dave Cantin Group (DCG), one of the largest automotive industry financial advisory services companies specializing in buy/sell transactions, announced that DCG Acquisitions , one of the leading mergers and acquisitions firms, closed the transaction of Carson Toyota—largest Toyota dealership in Carson, California— to Fletcher Jones Automotive Group.

Key Points:

The Dave Cantin Group (DCG), one of the largest automotive industry financial advisory services companies specializing in buy/sell transactions, announced that DCG Acquisitions , one of the leading mergers and acquisitions firms, closed the transaction of Carson Toyota—largest Toyota dealership in Carson, California— to Fletcher Jones Automotive Group.
Under the new ownership, the dealership will be known as Fletcher Jones Toyota of Carson.
“As a third-generation operator and COO of our management team, I am excited to welcome the entire Fletcher Jones Toyota of Carson staff to the Fletcher Jones Automotive Group family,” says Fletcher Jones III, COO of Fletcher Jones Automotive Group.
“We look forward to passing the baton to the Fletcher Jones organization to continue our legacy with Carson Toyota,” says Dan Pennington, Co-Owner of Carson Toyota.

DCG Giving, a Dave Cantin Group Partnership, Delivers a Knockout Punch to Pediatric Cancer Through its Fundraising Auction of Mike Tyson Autographed Boxing Gloves

Retrieved on:

Thursday, February 23, 2023

The event auctioned off autographed boxing gloves by Mike Tyson.

Key Points:

The event auctioned off autographed boxing gloves by Mike Tyson.
View the full release here: https://www.businesswire.com/news/home/20230223005951/en/
Mike Tyson (left), Dave Cantin, Executive Chairman and CEO (center), and Valentina Nejfelt celebrate the auctioning of autographed boxing gloves at Dave Cantin Group’s event on behalf of DCG Giving.
“Only about 4% of all federal funding for cancer research is spent on projects involving children's cancers-that is simply not enough,” says Dave Cantin, Executive Chairman and CEO, DCG.
The Division is nationally distinguished for its design and conduct of NIH-funded multicenter clinical trials involving childhood cancer and blood disease.

Genesis Reaches Agreement in Principle with DCG and Key Creditors on a Global Resolution that Optimizes Outcome for Clients and Stakeholders

Retrieved on:

Monday, February 6, 2023

The agreement in principle lays out a framework for a global resolution that will maximize value for all Genesis clients and stakeholders.

Key Points:

The agreement in principle lays out a framework for a global resolution that will maximize value for all Genesis clients and stakeholders.
Under the terms of the agreement, DCG would exchange its existing $1.1 billion note due in 2032 for convertible preferred stock to be issued by DCG as part of Genesis’s Chapter 11 plan.
As part of the transactions, DCG will also contribute its equity interest in Genesis Global Trading (“GGT”) to Genesis Global Holdco, bringing all Genesis entities under the same holding company.
Pending the closing of these transactions, Genesis will launch a sale process for GGT and explore other value-maximizing transactions.

DCG Acquisitions, a Dave Cantin Group Company, Closed More Than $1 Billion in Total Acquisition Value in 2022 for Second Consecutive Year

Retrieved on:

Tuesday, January 24, 2023

The Dave Cantin Group (DCG), one of the largest automotive industry financial advisory services companies specializing in buy/sell transactions, announced that DCG Acquisitions , one of the leading mergers and acquisitions firms, closed more than $1 billion in total acquisition value for the second consecutive year.

Key Points:

The Dave Cantin Group (DCG), one of the largest automotive industry financial advisory services companies specializing in buy/sell transactions, announced that DCG Acquisitions , one of the leading mergers and acquisitions firms, closed more than $1 billion in total acquisition value for the second consecutive year.
“The number and more importantly, the valuation of dealership acquisitions in 2022 exceeded our expectations,” said Dave Cantin, Executive Chairman and CEO of DCG.
Most notable acquisitions include:
Most notably, DCG Acquisitions completed 60 dealership franchise transactions in 2022, an increase of 50% over 2021, and 33% of its total 2022 transactions were multi-rooftops.
Funds raised from a percentage of every transaction DCG Acquisitions closed supported local resources where the transactions took place.

SGT SUBMITS AMENDED DEMAND FOR CLASS ARBITRATION AGAINST GENESIS GLOBAL CAPITAL, DIGITAL CURRENCY GROUP, AND DCG FOUNDER AND CEO BARRY SILBERT.

Retrieved on:

Friday, January 20, 2023

Silbert, American Arbitration Association, Master, SGT, Gemini, ISDA Master Agreement, DCG, Demand, Genesis

STAMFORD, Conn., Jan. 19, 2023 /PRNewswire/ -- SGT has submitted an Amended Demand for Class Arbitration (the "Amended Demand") to the American Arbitration Association ("AAA") on behalf of 19 clients and a putative class of similarly situated individuals who lent Genesis Global Capital ("Genesis") digital assets which Genesis refuses to return.

Key Points:

STAMFORD, Conn., Jan. 19, 2023 /PRNewswire/ -- SGT has submitted an Amended Demand for Class Arbitration (the "Amended Demand") to the American Arbitration Association ("AAA") on behalf of 19 clients and a putative class of similarly situated individuals who lent Genesis Global Capital ("Genesis") digital assets which Genesis refuses to return.
The Amended Demand adds a claim for Control Person Liability against DCG founder and CEO Barry Silbert and DCG.
The Amended Demand adds a claim for Control Person Liability against DCG founder and CEO Barry Silbert and DCG.
The Amended Demand alleges that despite being insolvent, Genesis and DCG engaged in a campaign of misdirection and lies, failing to disclose Genesis' financial condition as required, and made misrepresentations concealing Genesis' financial condition.

Genesis Initiates Process to Achieve Global Resolution to Maximize Value for All Clients and Stakeholders and Strengthen Its Business for the Future

Retrieved on:

Friday, January 20, 2023

Genesis Global Holdco, LLC (“Genesis” “GGH” or the “company”), an industry pioneer and digital currency prime brokerage, today announced strategic actions to achieve a global resolution to maximize value for all clients and stakeholders and strengthen its business for the future.

Key Points:

Genesis Global Holdco, LLC (“Genesis” “GGH” or the “company”), an industry pioneer and digital currency prime brokerage, today announced strategic actions to achieve a global resolution to maximize value for all clients and stakeholders and strengthen its business for the future.
Genesis Global Holdco, LLC (“GGH”) and two of its lending business subsidiaries, Genesis Global Capital, LLC (“GGC”) and Genesis Asia Pacific Pte.
Redemptions and new loan originations in the lending business remain suspended, and claims will be addressed through the Chapter 11 process.
Genesis and its advisors will continue to evaluate options to advance the process to reach a global resolution.

Lithosphere (LITHO) Developer KaJ Labs Announces Letter of Intent to Acquire Genesis Global Capital, DCG Assets For $1.5 Billion

Retrieved on:

Monday, January 23, 2023

Digital Currency Group, Chapter 11, Title 11, United States Code, DCG, Experiential learning, LOI, Cryptocurrency

Seattle, Washington--(Newsfile Corp. - January 23, 2023) - KaJ Labs announced that it has issued a Letter of Intent (LOI) to acquire the assets of the distressed crypto firm Genesis Global Capital for $1.5 billion.

Key Points:

Seattle, Washington--(Newsfile Corp. - January 23, 2023) - KaJ Labs announced that it has issued a Letter of Intent (LOI) to acquire the assets of the distressed crypto firm Genesis Global Capital for $1.5 billion.
KaJ Labs seeks to purchase the remaining qualified assets of Genesis Global Capital LLC.
Genesis Global Capital, also known as Genesis Global Trading, is a cryptocurrency brokerage for institutional investors.
Genesis filed for Chapter 11 bankruptcy on January 19, 2023 to request court protection to reorganize its cryptocurrency lending businesses.

Lithosphere (LITHO) Blockchain Developer Plans to Extend $830M Credit Facility to Genesis, Digital Currency Group (DCG)

Retrieved on:

Thursday, January 19, 2023

Fear, IP, Digital Currency Group, FTX, Blockchain, DCG, Experiential learning, Lithosphere, Cryptocurrency

Seattle, Washington--(Newsfile Corp. - January 19, 2023) - Lithosphere blockchain core developer KaJ Labs is willing to help Digital Currency Group (DCG) with its insolvency issues by extending a credit facility of $830 million.

Key Points:

Seattle, Washington--(Newsfile Corp. - January 19, 2023) - Lithosphere blockchain core developer KaJ Labs is willing to help Digital Currency Group (DCG) with its insolvency issues by extending a credit facility of $830 million.
The Lithosphere network aims to eliminate bottlenecks hindering mainstream blockchain tech adoption by offering a robust infrastructure for distributed value transfer and interoperability across multiple blockchain networks.
Genesis, a crypto broker owned by DCG, halted withdrawals in its platform in November, to prevent a liquidity shortfall.
Lithosphere is the first blockchain to utilize embedded Deep Neural Networks to make smart contracts intelligent, while enabling interoperability across diverse blockchains.

NFTBank Powers NFT Pricing for X2Y2 Loans

Retrieved on:

Sunday, January 22, 2023

Ethereum, Machine, LTV, Collection, Chain-link fencing, Non-fungible token, NFT, API, Pine, DCG, Cryptocurrency, Bank, Security (finance), Real estate

NFTBank joins forces with X2Y2 , the third biggest NFT marketplace on Ethereum and an emerging NFT loans platform.

Key Points:

NFTBank joins forces with X2Y2 , the third biggest NFT marketplace on Ethereum and an emerging NFT loans platform.
Branching out further from NFT marketplaces and aggregators, recent trends show NFT-backed loans, NFT rentals, and NFT derivatives – platforms serving trading activity for NFTs as collectibles.
Following this trend, X2Y2, the third biggest NFT marketplace in the world with a total trading volume of $950+ million , launched its own NFT loans platform this September.
In an attempt to provide its users with accurate NFT pricing data, X2Y2 partnered with NFTBank, the leading NFT valuation provider.