Crypto trade Bitvavo rejected Digital Forex Group’s (DCG) proposal to repay 70% of its debt as a result of the embattled agency has ample funds to make full reimbursement, based on a Jan. 10 assertion.
Bitvavo maintained that it was assured {that a} answer might be discovered to fulfill all of the involved events.
In keeping with the Netherlands-based firm, the debt reimbursement wouldn’t be affected by the reported investigations into DCG nor the attainable chapter of crypto lender Genesis. Nonetheless, the method may influence the reimbursement timelines.
Bitvavo didn’t reply to CryptoSlate’s request for remark as of press time.
Bitvavo has over $300 million (€280 million) locked with DCG. The trade mentioned it makes use of DCG’s providers to supply off-chain staking providers to its shoppers.
In the meantime, Bitvavo shoppers usually are not impacted by the fallout. In keeping with the trade, its shoppers can withdraw their digital belongings anytime as a result of it has assumed the danger on their behalf.
DCG is presently going through heightened scrutiny due to its monetary state of affairs. Gemini co-founder Cameron Winklevoss has referred to as for the removing of its CEO Barry Silbert.
