“As creditors, we do not find the latter acceptable because DCG has sufficient resources available for full repayment,” DCG creditor Bitvavo said.
Cryptocurrency exchange Bitvavo, a major creditor of the troubled crypto company Digital Currency Group , has dismissed DCG’s proposal of partial debt repayment.on Jan. 11 that the firm received a counter proposal from DCG offering to repay about 70% of the outstanding amount in a term acceptable to Bitvavo.
The remaining balance amount is still under negotiation with DCG, as it is only ready to repay part of the debt within a term acceptable for Bitvavo, the exchange said, adding: “As creditors, we do not find the latter acceptable because DCG has sufficient resources available for full repayment.” Bitvavo emphasized that the current situation regarding DCG has no impact on Bitvavo’s customers, platform, or services. “Bitvavo guarantees the outstanding amount and has thus taken over the risk from its customers,” the firm noted.
The announcement came soon after Bitvavo decided to pre-fund about $290 million in assets locked on DCG to avoid reliance on the troubled firm. The Dutch crypto exchange said it had enough resources to continue serving its customers without disruption. The exchange
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