1/ Hey all 👋
I’m *super* thrilled to announce that every Donut user will receive 100% of their funds back from Genesis.
We’ve been testing withdrawals over the past days and will gradually increase the pace soon.
So, how did we get here?
@theneelpopat Thank you Neel for fighting for us every step of the way. Thank you for always responding to all my questions through out this ordeal. It was a hard lesson learned and now we all can move forward.
Update:
The bankruptcy plan is now in effect, and we've successfully recovered 100% of your funds, which we're preparing for withdrawal.
To ensure system stability and adherence to payment processor limits, we'll use a gradual distribution process in which withdrawals become available in phases.
When it's your turn, you'll have access to your entire balance.
Withdrawals will start becoming available next week, with gradual access for all users to withdraw their funds in August.
When your withdrawal is ready, we'll notify you and provide instructions on how to initiate it via the Donut web app.
https://t.co/MR0LMSdPNi
This is absolutely insane:
Nvidia, $NVDA, the third largest company in the world is trading like a penny stock.
Since its after hours low seen just 18 hours ago, Nvidia has added $380 BILLION of market cap.
In other words, Nvidia has added as much market cap as the entire value of Costco, $COST, in 18 hours.
This comes after the stock erased $1 TRILLION of market cap over the last 5 weeks.
Big tech stocks are throwing around trillions of Dollars of market cap in a matter of hours.
Truly insane.
Update:
We can now confirm a 100% recovery of funds.
We understand you're eager for updates and appreciate your continued patience. We're working diligently to move this process forward and will notify you when withdrawals are ready.
To ensure a smooth withdrawal process, please confirm your bank account.
More to come.
https://t.co/MR0LMSdPNi
On March 6th, @DCGco tweeted a response to the @NewYorkStateAG's lawsuit alleging fraud by DCG, @BarrySilbert and @michaelmoro. It was full of corporate boilerplate and mincing of words, instead of addressing the substantive and detailed suit in plain language. 🧵👇
1/ A tale of two bankruptcies, separated by a decade, and the two men who caused them. One of them with a conscience, and the other without one (@barrysilbert).
Time for a thread 🧵
Thanks Nikou
You have covered DCG more than anyone
Please pursue further!
There are over 2B in potential preference claims to pursue at DCG and we have no idea why the Debtor has not pursued them yet after a full year has passed.