Bitcoin Exchange Bitvavo Disappointed in DCG's Repayment Plan
Bitvavo – a Netherlands-based crypto ex change – is unhappy with Digital Currency Group (DCG)’s proposed plan to compensate Genesis’s troubled creditors. While DCG has offered to recover 70% of funds owed to such firms, Bitvavo has deemed the plan unacceptable Pay it All Back, Says Bitvavo In a statement from Bitvavo on Tuesday, the ex change claimed that DCG “has sufficient funds available for full repayment.” As such, its offer to repay just 70% of debts “in a period acceptable to Bitvavo” was called “not acceptable” for creditors. “Bitvavo, along with other creditors and advisors, is actively engaged in conversations with DCG to recover the resulting debt as soon as possible,” said the company. The Dutch crypto ex change is the largest within its country, generating about $51 million of trading volume within the last 24 hours, per data from CoinGecko . Last month, the ex change revealed that it had exposure to Genesis to the tune of €280 million, holding DCG respon...