Today, January 27, Bitvavo has another update shared about the 280 million euros it still receives from the Digital Currency Group (DCG). In the update, Bitvavo writes that the negotiations on the outstanding amount have come closer to a solution. Bitvavo, but also Genesis and DCG, even write positive to be about the current situation.
An improved proposal
In the update, the Dutch crypto exchange writes that DCG has made an improved proposal regarding the outstanding 280 million euros that Bitvavo has yet to receive. This proposal means that Bitvavo will recover most of the outstanding balances within an acceptable period. The Chapter 11 bankruptcy protection shows that DCG also has enough credits to actually pay back the money.
Despite the fact that things seem to be moving forward, the negotiations are not yet complete. But it is slowly starting to look like Bitvavo can breathe a sigh of relief.
Bitvavo lashes out at traditional media
In addition to the positive update, Bitvavo lashes out at the coverage of the traditional media. According to Bitvavo, this reporting is speculative and since the Dutch crypto exchange is still in the negotiation phase, it is difficult for them to defend themselves against this. Newsbit endorses this position and earlier this week requested a response from the Fd.
All in all, the situation around DCG seems to be improving quickly and that’s a good thing.