Day: January 6, 2024

DCG settles Genesis Debt, Memeinator’s token presale takes centre stage

Digital Currency Group (DCG) settles Genesis debt.
Besides settling Genesis’s debt, DCG has repaid a total of $1B to its creditors.
Memeinator’s MMTR token presale has raised $3.2M in its eleventh stage.

Digital Currency Group (DCG) has achieved a significant financial milestone by fully clearing its short-term debt, including the debt it owed the bankrupt Genesis subsidiary.

Simultaneously, the crypto space is buzzing about Memeinator and its MMTR token presale, aiming to capitalize on the meme coin mania.

DCG settles Genesis debt

The short-term debts resolved by Digital Currency Group included a substantial repayment of $1 billion to creditors and a staggering $700 million directed towards Genesis. This strategic move ensures stability for DCG amid ongoing bankruptcy proceedings and underscores the company’s commitment to responsible fiscal management.

The debt settlement follows a lawsuit initiated by Genesis in September, seeking the recovery of an outstanding loan balance exceeding $610 million. DCG’s commitment to debt repayment, highlighted in a strategic agreement reached in August, reflects its determination to honour financial obligations.

Crucially, the agreement safeguards Genesis under DCG’s tax consolidated group, offering protection and potential tax benefits. This protection could prove instrumental, allowing Genesis to offset losses against future profits and potentially retain benefits on Net Operating Losses (NOLs) amounting to $700 million.

Notably, after the $700 million repayment, the remaining loan balance is scheduled for repayment to Genesis by April 1, as approved in federal bankruptcy court.

Despite uncertainties in the aftermath of the cryptocurrency market crash, both DCG and Genesis express optimism about the future.

DCG CEO Barry Silbert, while showing his excitement about the recent settlement in a tweet stated that he is  “excited about the industry’s next chapter and DCG’s leadership role in it.”

I’m happy to share that @DCGco completed a full pay down of the money borrowed from Genesis

We have now repaid over $1 bn of debt, including this ~$700 mm, despite the headwinds faced by the industry

I’m excited about the industry’s next chapter and DCG’s leadership role in it https://t.co/Jlbu3Zs7Xl

— Barry Silbert (@BarrySilbert) January 5, 2024

Memeinator’s MMTR token presale

While DCG hands the bankrupt Genesis a lifeline with the $700 million loan repayment, Memeinator, a rising player in the crypto space, is making waves with its ongoing MMTR token presale. Investors are flocking to the crypto project and the presale has already raised an impressive $3,065,084 out of the targeted $3,200,431 in Stage 11.

Positioned as the “hottest meme coin on the market,” Memeinator aims to dominate the meme coin landscape with innovative product launches, including the Memescanner and the Memeinator Game.

The MMTR token envisioned as a staple among top-tier meme coins, promises genuine utility, offering access and perks in revolutionary products. Memeinator’s roadmap outlines strategic phases, from initial calibration and launching on popular exchanges to the eventual goal of meme domination. The tokenomics section delineates the allocation of funds to presale, marketing, development, exchange liquidity provision, and a competition pool, ensuring transparency in Memeinator’s financial strategy.

Conclusion

DCG’s successful debt resolution and Memeinator’s MMTR token presale mark dynamic developments in the cryptocurrency landscape.

DCG’s commitment to fiscal responsibility and Genesis’ protection under a tax agreement set the stage for a resilient future. Simultaneously, Memeinator’s innovative approach to meme coin dominance demonstrates the industry’s constant evolution. As these narratives unfold, the crypto community eagerly awaits the next chapters in the stories of DCG and Memeinator.

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Coconut Chicken, Anyone? Tron Plans to Launch a Tasty New Memecoin — But Can it Compete Against $GFOX?

Memecoin season is still in full effect, and even the founder of Tron ($TRX) wants a piece of the pie – or a chunk of the chicken, as the case may be. Coconut Chicken Coin ($CCC), anyone? Tron plans to launch a tasty new memecoin, and it has been a hit. But can it compete against Galaxy Fox ($GFOX)?

The battle of the memes begins, and today, it is time to work out which is likely to be the best cryptocurrency to buy now. Will the fox eat the chicken? Or will the fowl come out ahead?

Justin Sun’s Newest Project: Coconut Chicken ($CCC)

Justin Sun has always actively participated in the crypto ecosystem and is never one to miss a trend. The overwhelming success of memecoins led to Sun launching an X (Twitter) poll on whether he should deploy one on Tron

The result was obviously yes, and now Coconut Chicken Coin is live.

Given Sun’s impressive social media presence, $CCC is arguably one of the top crypto to buy on Tron currently. 

The layer one chain specializes in fast and cheap transactions and has become the most popular chain regarding real-world adoption. The majority of $USDT resides on the Tron network and is leveraged by people in emerging economies all over the world to secure their savings.

Will $CCC outcompete $GFOX? Analysts’ predictions favor the latter and believe that Sun’s memecoin may only have a brief time in the sun before fading away.

Galaxy Fox ($GFOX): The Expert’s Choice

Galaxy Fox is the experts’ choice, and a dive into the protocol reveals why. This project is revamping what it means to be a memecoin and its success in building early momentum is indicative of it becoming a future top performer. Blitzing past $2.3 million in its presale, $GFOX is emerging as one of the top crypto to invest in for anybody who wants long-term memecoin exposure.

But why is Galaxy Fox potentially the best cryptocurrency to buy now? Its wide range of features gives it longevity, and it has stunned markets by creating a deflationary asset that produces native yield. The tokenomics model is impressive, and its use of buy and sell taxes to encourage growth put it in a league of its own.

At the heart of this protocol is an addictive Web3 runner game where the most skilled players can earn. Prizes exchangeable for $GFOX tokens will be paid out to the top 20% of the leaderboard at the end of each season. Those who want to give themselves an advantage can purchase one of 3,000 unique NFTs and unlock in-game stat boosts!

But the star of the show is the Stargate hub. It accrues 2% of all transactions and pays these out to stakers. Presale participants will be among the first to stake, and earning rewards correlated to activity during launch could net some crazy returns. The addition of a token burn that permanently removes $GFOX from circulation is the move that turns this token into a showstopper. 

Closing Thoughts: The Bull Market Is A Marathon Not A Sprint

The bear market felt like an eternity, and while the bull market will feel faster, it is still a marathon, not a sprint. While Sun’s Coconut Chicken Coin has shown impressive first steps, the long-tail growth catalysts deeply worked into the Galaxy Fox protocol will see it outperform in the long run.

Joining the presale now puts investors ahead of the rest. Those participating in the Galaxy Fox presale now will be first in line for staking rewards, and this token signals it wants to prove itself and analysts’ claims that it could be the best cryptocurrency to buy now. Strap in. One explosive price discovery phase is loading. 

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

The post Coconut Chicken, Anyone? Tron Plans to Launch a Tasty New Memecoin — But Can it Compete Against $GFOX? appeared first on CoinJournal.


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