Amsterdam-based Bitvavo, a cryptocurrency exchange, said that it has rejected Digital Currency Group’s (DCG) proposal to repay 70 per cent of Genesis Trading’s debt.
Now, Bitvavo along with other creditors and advisors are actively engaged in conversations with DCG to recover the resulting debt as soon as possible.
The Dutch cryptocurrency exchange says that DCG has sufficient funds for full repayment. Bitvavo said it is confident that a solution can be found to satisfy all concerned parties involved.
The Netherlands’ company also highlighted that the debt repayment would not be jeopardised, even if Genesis files for Chapter 11. Bitvavo also assured that the debt repayment would not be affected by a possible US Investigation over internal transfers within DCG.