DCG Reaches Creditor Pact to Sell Genesis Trading Unit as Part of Bankruptcy

• DCG and Genesis have reached an agreement with a key group of creditors to sell the Genesis Trading Unit as part of its bankruptcy restructuring.
• Cleary Gottlieb attorney Sean O’Neal explained that DCG will contribute the Genesis Global Trading unit to Genesis Global Holdco, which will be marketed and sold as a package.
• The proposed deal also involves a restructuring of debt between DCG and Genesis Holdco, with two tranches denominated in U.S. Dollars and Ethereum.

DCG Creditor Pact Revealed With Plan to Sell Genesis Trading Unit as Part of Bankruptcy

Earlier Monday, CoinDesk reported that DCG and Genesis had reached an agreement with a key group of creditors. By Nikhilesh De, Nick Baker Feb 6, 2023 at 10:02 p.m. UTCUpdated Feb 7, 2023 at 2:59 p.m. UTC

Details of Agreement

Digital Currency Group (DCG) intends to sell its subsidiary Genesis‘ crypto trading business as well as its lending arm, which is restructuring through bankruptcy, a Genesis attorney said Monday as the company revealed a pact with creditors. Cleary Gottlieb attorney Sean O’Neal, representing Genesis, explained the proposed settlement during the status hearing for the crypto lender which filed for bankruptcy protection last month. Under the settlement, DCG would contribute that entity [Genesis Global Trading] to [Genesis Global Holdco] … that will happen on the effective date,“ O’Neal said“. In addition to this transaction there will be a restructuring of debt owed from DCG to Gensis Holco under new terms involving two tranches denominated in U.S dollars and Ethereum .

CoinDesk’s Coverage

CoinDesk reported earlier Monday that DCG and Gensis had reached an agreement with key creditors regarding these matters . CoinDesk , like Gensis is owned by DCG .

About Digital Currency Group

Digital Currency Group founder Barry Silbert (DCG) is dedicated to building digital currency businesses globally by providing thought leadership through investing , media , public policy advocacy , development capital ,and recruitment services .

Conclusion

In conclusion , Digital Currency Group has come to an agreement with their subsidiaries Gensis regarding selling off their trading unit while also restructuring debt via two tranches denominated in USD & ETH . This was first reported by CoinDesk who are owned by Digital Currency Group just like Gensis itself .

Genesis Trading Arm Still Active Despite Bankruptcy Filing

• Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection in New York.
• Even as Genesis‘ crypto-lending business entered bankruptcy court protection, the company’s trading arm, which remained out of Chapter 11, is still moving money around on blockchains – a sign the business was still running at least somewhat as normal.
• About $125 million was sent to exchanges in the run-up to Genesis‘ lending division filing for Chapter 11 protection. More was moved the next day.

Genesis Global Holdco LLC, the holding company of the troubled cryptocurrency lender Genesis Global Capital, recently filed for Chapter 11 bankruptcy protection in New York. This filing was made after the company was hit hard by two of the biggest industry collapses of 2022. Despite this, CoinDesk News Desk Managing Editor Danny Nelson reports that the company’s trading arm, which remained out of Chapter 11, is still moving money around on blockchains – a sign that the business is still running at least somewhat normally.

Before the filing for Chapter 11 protection, around $125 million was sent to exchanges. Even more money was moved the next day, with the Genesis over-the-counter (OTC) trading desk sending funds to multiple wallets, including some owned by exchanges such as Huobi and Coinbase. This suggests that the trading arm is still operating, indicating that the business could still be relatively normal despite the bankruptcy filing.

The news of the trading arm’s activity comes at a time when the crypto industry is facing a period of uncertainty due to the recent tumult. While the bankruptcy filing of Genesis’ lending division is a sign of the industry’s fragility, the fact that the trading arm is still active is a sign of relative normality. It’s a reminder that despite the current state of the industry, there are still some aspects of the market that remain stable and functioning.

This stability is important for the crypto industry, as it helps to bring reassurance to investors and traders that the market can still function even in the face of uncertainty. As the industry continues to grow, this stability will be increasingly important, and it’s reassuring that the trading arm of Genesis is still active.

Although the exact implications of the trading arm’s activity remain to be seen, it’s clear that the crypto industry is still functioning, even in the face of turmoil. This is a sign of relative normality and could help to bring some much needed stability to the market.

Crypto Lending Firm Genesis Holds $5.1 Billion in Liabilities After Freeze on Withdrawals

• In November, crypto lending firm Genesis held $5.1 billion in liabilities.
• This was revealed in a first-day motion in the U.S. Bankruptcy Court for the Southern District of New York.
• The liabilities came following Genesis‘ freeze on withdrawals due to the collapse of FTX and sister company Alameda.

Crypto Markets Today reported on the news that crypto lending firm Genesis held $5.1 billion in liabilities in the weeks following its freeze on withdrawals in November. This was revealed in a first-day motion in the U.S. Bankruptcy Court for the Southern District of New York, which was signed by interim CEO Derar Islim. The motion provided a breakdown of Genesis’ financial state heading into its restructuring.

The liabilities stemmed from the collapse of FTX and sister company Alameda, which sparked a “run on the bank” as customers demanded Genesis repay $827 million in loans. Consequently, the lending units were forced to freeze withdrawals, leaving Genesis with $5.1 billion in liabilities. This move caused the three Genesis entities – Genesis HoldCo, Genesis Global Capital LLC and Genesis Asia Pacific PTE. LTD – to file for Chapter 11 bankruptcy protection.

The events leading up to Genesis’ financial troubles began with the crash of FTX and Alameda. In October, the two companies lost $5.5 billion in assets and faced negative market sentiment due to the risks associated with their business model. This caused extreme volatility in the crypto markets, resulting in losses for many companies.

The losses were especially difficult for Genesis, as its business model relied heavily on FTX and Alameda. As a result, Genesis was left with no other option but to suspend withdrawals and file for bankruptcy protection.

The news of Genesis’ financial troubles had a ripple effect throughout the crypto markets, as investors became more cautious about their investments. This caused the price of Bitcoin to dip slightly, as well as the prices of other cryptocurrencies.

Despite the news, many in the crypto industry remain optimistic about the future of the sector. Many believe that the crypto markets are still in a nascent stage and that the sector will continue to grow in the coming years.

In the meantime, Genesis is in the process of restructuring its business model and developing a new strategy for the future. The company is working to create more transparency for its customers and to ensure that its business practices are in line with regulatory standards.

Genesis’ financial troubles have been a lesson for the entire crypto industry. It has highlighted the importance of having robust risk management practices in place and of being aware of the risks associated with investing in the crypto markets. It has also demonstrated the need for more regulation in the sector to protect investors’ interests. As the industry continues to grow, it is likely that similar situations will arise in the future, so it is important to be prepared.

How to Change Your Windows 10 Desktop

Are you fed up with the same old desktop each time you switch on your PC? Do you want to personalize you Windows 10 desktop with a couple of easy steps? If yes, then you’re in the right spot! This article will demonstrate how you can easily alter the look of your Windows 10 desktop to make it your personal.

Customizing the Desktop Wallpaper

The ability to change the wallpaper on your computer is among the most simple ways to personalize you Windows 10 desktop. For this to be done, click right in your computer, choose „Personalize“ and then click on „Background“. From there, you’ll be able to select the wallpaper you want from a selection of choices. You can also upload a photo of your own , if you’d like.

Changing the Screen Saver

Another way to personalize your desktop is by changing the background screen. For this to be done, click right on your desktop, and then select „Personalize“. Next, select „Screen Saver“. From there you’ll be able choose a screen saver that is already installed or upload your own.

Organizing the Desktop

If you’re like the majority of people, your desktop likely to be cluttered with folders and files. To help you organize your desktop, build folders to arrange your files in a manner that is suitable for you. For creating a new folder simply right-click on your desktop and choose „New“ and then „Folder“.

Adding Shortcuts

If you are constantly accessing specific folders and files it is possible to create shortcuts that help you access them. In order to create your own shortcut, right click on the folder or file you’d like to make the shortcut for and choose „Create Shortcut“. Then, you can move the shortcut onto your desktop.

Using the Taskbar

The taskbar can be a fantastic option to organize and gain access to the most frequently used apps and applications. To open the taskbar, click right-click on your desktop and choose „Taskbar“. From here, you are able to move, add or remove the icons displayed on the taskbar.

Changing the Icon Size

In the event that you’d prefer to make icons that you see on your desktop more or smaller it is possible to do this by right-clicking your desktop and choosing „View“. From there, you’ll be able to choose „Large Icons“, „Small Icons“ or „No Icons“.

Adjusting File and Folder Options

Should you wish to alter how your folders and files are displayed on your desktop you can do this by right-clicking your desktop and choosing „View“. From there, you can select to hide or show icons, display or hide information and much more.

Conclusion

The ability to change the wallpaper on your Windows 10 desktop is a fantastic way to customize your system and make it appear more like your personal. In just a few steps, you are able to change your desktop wallpaper or screen saver size, and much more. What is it you’re doing you Start creating your own Windows 10 desktop today!

How to Connect Alexa to Your Soundbar

Are you looking to take your experience with your soundbar to the highest level? By connecting the Alexa directly to the soundbar could be an excellent option to accomplish this! If you’re looking for ways to make your listening experience more enjoyable or benefit from the most recent advancements in voice control technology connecting to connect your Alexa with your soundbar could be the right way to go. This article will go over the benefits connected Alexa directly to the soundbar. the things you’ll need to do to establish connections and the best way to go about it. We’ll also discuss troubleshooting the most common problems and offer suggestions to enhance your experience with your soundbar.

The Advantages of Connecting Alexa to Your Soundbar

The ability to connect Alexa with your audiobar has many advantages. First you’ll be able manage your soundbar via your voice. Instead of using an actual remote, you’ll be able to simply say to Alexa exactly what you want her to accomplish. This makes it easier using your speaker because you don’t have to remember remotes or fret about it being far away. Furthermore, Alexa can provide you with access to a variety of podcasts, music and other audio-related content. All you need to do is request it and Alexa will handle everything else.

What You Need to Connect Alexa to Your Soundbar

To join Alexa on your audiobar, you’ll require several things. The first is an Alexa-enabled gadget, like one of the Echo Dot or Echo Show. Also, you’ll require Wi-Fi connectivity along with the audio connection. The audio cable is utilized to connect your soundbar to the Alexa-enabled device. Based on the kind of soundbar that you have you may require a particular type of audio cable. Be sure to have the correct cable before beginning the connecting process.

Steps to Connect Alexa to Your Soundbar

When you’ve got all the items you need then you’re all set to join the Alexa and your Soundbar. It’s a simple process that is likely to take just some minutes. Here’s how:

1. Start by turning on your audiobar and making sure that it’s connected to the Wi-Fi network.

2. Connect the audio cable to your soundbar and connect it to an Alexa-enabled device.

3. Start your Alexa App on your phone, and then select“Devices. „Devices“ option.

4. Choose“Add Device“ and then click on the „Add Device“ option and choose „Soundbar.“

5. Follow the instructions on the screen to complete the connection procedure.

6. After the connection has been established after which you’ll be able connect your soundbar to Alexa.

Troubleshooting Common Issues

If you encounter any difficulties while connecting the Alexa with your Soundbar there are couple of steps you can follow to resolve the issue. The first step is to ensure that the soundbar is connected to the Wi-Fi network. If it’s not then you’ll be unable to connect. Also, ensure that you’re using the appropriate kind of cable for audio. Different types of soundbars need different kinds of audio cable, and you should you need to make sure you’re using the correct one. If you’re still experiencing issues following these suggestions it’s possible to call customer service to get help.

Tips for Enhancing Your Soundbar Experience

When you have your Alexa connects to the soundbar there are some actions you can take to enhance the experience. Begin by exploring the various commands that Alexa is able to understand. This will enable you to maximize the performance from your speaker. You may also be interested in exploring the different streaming services for music that work with Alexa. This allows you to access more audio-related content. Also, think about buying additional Alexa-enabled devices for example, the Echo Dot or Echo Show. This will let you manage your audiobar in every space within your home.

Conclusion

Making the connection of Alexa on your Soundbar a fantastic method to make the most value from your experience with your soundbar. With Alexa you’ll be able manage your soundbar via your voice, gain access to an array of audio content, and manage your soundbar from any location within your home. All you require is an Alexa-enabled device wi-fi connectivity, and the correct audio cable. The process is easy and is likely to take just about a couple of minutes. Once you’ve established the connection and you’re able to explore the different commands Alexa recognizes and make use of the many streaming services for music available. In just a few steps you’ll be able get the most out of your experience with your soundbar.

How to Extract the Audio From Video on All Platforms

Do you wish to keep the audio portion of a video? This can be done by removing the audio content from the video. There are a variety of third-party applications as well as built-in tools for the extraction process.

This article explains how you can extract the audio of a video for Windows, Mac, iPhone, Android, and the web. Therefore, no matter what the platform you’re using We’ve got you covered.

1. How to Extract the Audio From a Video on Windows

One of the most efficient ways to extract audio out of the video on an Windows PC is to utilize VLC Media Player. VLC Media Player. While VLC is a free media player application, it has some hidden features that include conversion capabilities that are built-in to it.

You can make use of these methods for converting your videos into an audio format. We will demonstrate how to accomplish this:

  1. Start VLC Media Player, click Media to the right, then select Convert/Save .
  2. There’s a box that appears in front of you. Within this box select Add Add, and include the video you wish to extract the audio from. Then, hit Convert/Save.
  3. On the next screen on the screen, select the Audio format On the next screen, choose MP3 in the Profile dropdown menu. The video will be converted into an MP3 audio file However, you can choose another audio format you like.
  4. To modify more options to customize more options, click the wrench icon that is next to the profile.
  5. If you’re returned to the main window then select the Browse button on the right side of the destination file and select the folder where you want to store your music file to. Make sure you add .mp3 after your file’s name if you’ve selected for the MP3 format. VLC does not seem to be able to be able to do this automatically.
  6. Click Start And VLC will begin extracting the audio from the video. Then, VLC will begin extracting the audio from your.

Depending on the length the video the conversion process may take some time to complete.

2. How to Extract the Audio From a Video on a Mac

Based on the format you’d prefer to save your audio file, you can choose from the option of turning any video file into an audio file Mac. Mac.

Extract the Audio and Save It as M4A

It is possible to use your built-in QuickTime Player app on your Mac to convert your videos to audio file. But, you’re only restricted to the M4A file format for the files you create that isn’t an standard type of audio file.

If you’re happy with this, here’s how to extract the process:

  1. Start your video using QuickTime Player.
  2. Click the File menu, and then select Export As > Audio Only .
  3. Select a folder in which to save the resultant file. Click save.

If you’re worried about the file format, you could utilize an online program such as CloudConvert to swiftly convert M4A files into MP3 or AAC. However, if you’re looking remove the sound from your video , without needing to convert, you should think about the following method.

Extract the Audio and Save It in Various Formats

If you’re looking for different file formats for the final file, you can install an application from a third party like Smart Converter to convert it on your Mac. The app is free and offers many file formats to choose from , and it supports numerous video formats for inputs.

Here’s how to make use of this application to convert the videos you’ve made into an audio

  1. Installation of Smart Converter on your Mac. Smart Converter app on your Mac.
  2. Launch the app by dragging and dropping your video on the interface of the app.
  3. Click More and choose MP3 Audio for turning your video into an MP3 format. You are free to select another option for audio to convert your video into an MP3 file if you’d like.
  4. Select Convert and the program will begin extracting the audio from the video.
  5. After that then select „Show File to open the audio file within Finder.

3. How to Extract the Audio From a Video on an iPhone

Media Converter is a no-cost paid app which you can use to extract audio from videos on your iPhone. It’s fast and it supports a variety of formats for files.

It can be used for the following purposes:

  1. Start the app, then press (+ (plus) in the middle.
  2. Select the Photos Library Allow the app access to the storage on your phone, then select the video you wish to take the audio out of.
  3. Click on the video you want to play in the list, then select the option to extract audio.
  4. Select the format of the file from the Format dropdown. Set other options if you wish, and then tap Start Conversion .2 Images

4. How to Extract the Audio From a Video on Android

If you’re using Android On Android, you can utilize an app called the Free video to MP3 converter application to extract audio from the video files. You can choose from a variety of formats that you can choose from for the final file.

Here’s how to utilize the application:

  1. Open the app and tap Video to Audio.
  2. Allow the application to access your device’s storage.
  3. Choose the video you wish to remove the sound from.
  4. Choose the format of the audio from the Format dropdown menu, select one of the options from the Bit Rate menu and tap Convert to initiate the process of conversion.2 Images
  5. The app will let you know when the audio file is finished. Once it is ready you can click Play to play the audio file.
  6. To access the converted files later on Go to the main interface in the app then click Output and choose the Audio to Video option on the top menu.

5. How to Extract the Audio From a Video Online

If you’re not keen to install an application on your device, you could choose to use the online converter. There are numerous online tools that will assist you in this including the Online Audio Converter is just one of them.

This tool allows you to upload your video from different sources, which allows you to convert the video file into an audio file using many different formats.

If you’re up for it now, you can download only the audio of an audio file with this tool online:

  1. Visit this site Online Audio Converter site in your web browser.
  2. Select the Open Files button and then add the video to your file.
  3. Choose one of the formats for audio to download your file.
  4. Click Advanced settings If you’d like to set up additional options to your file.
  5. Then then, select Convert to convert you video to an audio format.

Video to Audio Conversion Made Easy

When you next encounter a video you just like the audio part of — let’s say, a podcast — you can apply one of the strategies we’ve discussed to transform your video into an audio only file. Due to the absence of videos, files that are only audio will be less large, which makes them much easier to share with your loved ones.

How to Receive and Send Fax on Android? (Sending Fax using Android)

With the help of online fax services it is easy to send and receive fax using Android devices and view the faxed files from your phone or tablet. There are a variety of Android application for faxing that comes with the ability to send faxes using the Android however, only a few provide receiving function of fax. FAX.PLUS Android app is among those applications that allow users to receive and send the fax directly via the Android devices. Before we go over how you can use this free application to send and receive faxes on Android Let’s look at the primary functions of FAX.PLUS:

FAX.PLUS Android App Main Features at a Glance:

  • Simple and tidy design, with a fresh and easy-to-use interface
  • Up to 10 pages of free content by the fax
  • Faxes can be sent on Android to more than 150 countries
  • Fax widgets to monitor your outgoing and incoming faxes on the home screen
  • Scan documents using the built-in scanner feature (
  • Electronic signature
  • Choose a contact from your phonebook to send faxes .
  • No annoying ads
  • Faxing scheduled for the future
  • Extension dialing

As FAX.PLUS Android app is completely free and comes with an faxing credit of 10 pages for free when you sign up, there’s no harm in giving it a shot. We’ll now look at the steps to send and receive the fax from Android devices:

How to Receive and Send Fax on Android?

  1. Download and install the FAX.PLUS Applicationfrom Play Store.
  2. Log in using the details of your Gmail and Facebook accounts, or your email (You must also verify the number on your cell phone).
  3. Visit your send faxtab and then use to enter the tofield to select the recipient (You can select several recipients to send faxes to all at once).
  4. You must now include your documents that will be sent by fax. The device’s camera to scan your documents. You can also use the storage on your device to upload files via your smartphone. You can also upload documents from Dropbox as well as Google Drive.
  5. Add the files you’d like by using the methods mentioned above.
  6. Before pressing“Send, press the Gear icon located on the left-hand right side of the screen and then use the following features in case you require them for scheduling transmission, retry and fax-to-human operated Telefax, and optimize documents to transmission via fax..
  7. Click send and the fax you want to make will be delivered in a flash.

If you want to allow the ability to receive faxes from the Android device, you’ll need to join an expensive plan. Select the Profile tab and then Subscription Detail and then select your plan and city, country, as well as your fax number.

Therefore, FAX.PLUS Android app is the perfect option for those who want an all-in-one app for faxing to send and receive faxes from your Android phone.

Download this fax application for free and enjoy no-cost online faxing.

Are you looking for other methods to send a fax online with Google applications? Use the Google Fax feature to send faxes via Google Drive, Gmail, Google Docs, Google Sheets and more.