Crypto Markets Stay Down Following SEC Suing Binance

U.S. Bankruptcy Court Judge Sean Lane extended a mediation period between crypto lender Genesis and its creditors at a Monday hearing as tensions flared over the role Genesis’ parent company, Digital Currency Group (DCG), would play in the lender’s restructuring. The period, slated to end last month, will now conclude on June 16. Judge Lane appointed a mediator to steer talks between the insolvent lender and its creditors on May 1 after discussions between the parties broke down earlier this year. “There’s lots of different kinds of conversations that have to happen in connection with [bankruptcies],” Lane said during the hearing. “The challenge always, of course, is that you can’t negotiate everything all at once.” Digital Currency Group is also the parent of CoinDesk.