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September 18 - The State Council Information Office will hold a press conference on the theme of "Starting the 15th Five-Year Plan" at 10:00 a.m. on Friday, September 18. Chen Shaowang, spokesperson and vice minister of the Ministry of Housing and Urban-Rural Development, will introduce the relevant situation of promoting high-quality development of housing and urban-rural construction during the 15th Five-Year Plan period and answer questions from reporters.September 18th - According to Axios, US President Donald Trump is planning his first meeting with Venezuelan interim president Delcy Rodriguez as early as next week. Sources say the talks may take place during the UN General Assembly in New York. Trump plans to discuss the situation in Iran with Gulf leaders concurrently and hopes to arrange a meeting with Rodriguez. A Trump advisor stated that Venezuela is one of the Trump administrations key achievements, and Rodriguez is a key figure in promoting US-Venezuela relations. A senior US government official said the meeting is not yet finalized and the final arrangements depend on Trump himself. Trump previously responded "maybe" when asked if he would meet with Rodriguez. Rodriguez assumed power after the capture of former leader Nicolás al-Nimadro in a US military operation and has worked with the Trump administration and Secretary of State Marco Rubio to normalize US-Venezuela relations, including a previously reported major Venezuelan oil deal. The report points out that Trumps side is more focused on domestic political issues such as energy prices and immigration policy than on promoting democratic elections in Venezuela.According to Axios, US President Trump plans to hold his first meeting with Venezuelan interim president Rodriguez as early as next week.Disney (DIS.N) said that pressure from the Trump administration’s previous criticism and regulatory actions against ABC has led it to ask the court to block the Federal Communications Commission (FCC) from reviewing its broadcast license ahead of schedule.Conflict Update: 1. According to Lebanons Al-Ahram newspaper: Saudi Arabia has requested Oman to mediate a two-week ceasefire with the Houthi rebels. 2. Saudi Civil Defense stated that the Houthi rebels launched a drone at Taif, Saudi Arabia. 3. Iranian Revolutionary Guard: At 10:12 AM on the 17th, an advanced air defense system intercepted and destroyed the 53rd US MQ-9 drone over Qeshm Island. 4. UK Maritime Trade Operations Office: A westbound oil tanker reported being pursued and attempted to intercept by a small boat 75 nautical miles east of Aden, Yemen. 5. Trump stated that the war with Iran is approaching a critical juncture, and he needs to decide whether to resume large-scale military operations to push for an end to the conflict. 6. US media: Iranian forces recently shot down at least two US MQ-1 series drones; the specific model involved is currently unclear. 7. Iranian Foreign Ministry: Any act of aggression against Islamic holy sites should be condemned. Meanwhile, the mere claim of intercepting a drone bound for Mecca is insufficient grounds for accusing any particular party, especially since the Houthis have explicitly denied this claim. Other developments: 1. The US approved the Iranian president and foreign ministers trip to New York for next weeks high-level UN General Assembly meeting. 2. Turkeys Ministry of Defense condemned the Houthi drone attack on Saudi Arabia. The Houthi threat to the Red Sea and the Bab el-Mandeb Strait harms global maritime trade. 3. Irans Foreign Ministry, in retaliation for a similar action by Sweden, demanded the departure of a Swedish diplomat. 4. Satellite imagery shows Saudi Arabia is constructing a bypass for a key east-west oil pipeline to bypass pumping stations damaged in previous attacks. 5. Israeli Prime Minister Netanyahu: We must carry this mission through to the end and overthrow the Iranian regime.

Crypto broker Genesis owes Gemini’s customers $900 million

Skylar Shaw

Dec 05, 2022 15:25

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The Winklevoss brothers' cryptocurrency exchange Gemini clients are owed $900 million by cryptocurrency broker Genesis and its parent business Digital Currency Group (DCG), the Financial Times reported on Saturday.


According to the publication, which cited persons with knowledge of the situation, cryptocurrency exchange Gemini is attempting to recoup the assets after Genesis was caught off guard by Sam Bankman-FTX Fried's crypto group's bankruptcy last month.


Barry Silbert, the chief executive of venture capital firm Digital Currency Group, informed shareholders last month that Genesis Trading and cryptocurrency asset manager Grayscale owe $575 million to Genesis' crypto lending division.


In order to recover the monies from Genesis and its parent DCG, Gemini, which manages a crypto loan product in collaboration with Genesis, has now established a creditors' committee, according to the newspaper.


Separately, Coindesk reported on Sunday that creditor parties negotiating with Genesis presently account for loans totaling $1.8 billion, and that number is certain to rise.


The law firm Proskauer Rose is representing a second group of Genesis creditors, with loans totaling $900 million, according to CoinDesk, which cited a source.


Reuters contacted Genesis and Gemini for comment, but neither company responded right away.


According to three people familiar with the situation, the New York Times reported last month that Genesis had recruited investment firm Moelis & Company to investigate possibilities, including a potential bankruptcy.


The sudden demise of the cryptocurrency exchange FTX was cited as the reason Genesis Global Capital last month froze customer redemptions in its lending operation.


In the highest-profile crypto meltdown to date, cryptocurrency trading site FTX filed for bankruptcy protection in the US on November 11 after users withdrew billions from the platform in just three days and rival exchange Binance abandoned a rescue plan.