(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Savio D'Souza and Shinjini Ganguli)
(Adds background)
April 25 (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 at least a part of the $3.4
billion it owes creditors.
In February, DCG 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 raised new demands, said
DCG, which also owns crypto news website CoinDesk and digital
asset manager Grayscale.
"We will weigh any new demands against the concessions we
have previously made," it said.
Crypto firms, which were already under pressure after high
profile failures of FTX and Silvergate, are now scrambling to
find banking partners after the collapse of three
crypto-friendly lenders in the U.S. last month.
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