Dutch exchange Bitvavo, along with other creditors and advisors, is in negotiations with DCG to recover the outstanding amount of 280 million euro. After further discussions, the parties are considering going through a short-term Chapter 11 procedure.
70% Repayment Possible
There is a new and improved proposal in which Bitvavo largely agrees. This means that Bitvavo will get back much of the outstanding amount soon, including ±70% of the amount, about 197 million of the 280 million euros parked at DCG.
Bitvavo financially strong
Bitvavo guarantees the outstanding amount and has the financial resources to do so. Bitvavo is guaranteeing the outstanding amount and has the financial resources to do so. Bitvavo has fully assumed the risk incurred by its customers.
No news is good news
Due to the confidentiality of the negotiations, Bitvavo cannot respond substantively to questions about exact figures but Bitvavo stresses that the negotiations are in a final stage and the proposal they are satisfied with is on the table.
Information for customers
Bitvavo keeps its customers informed through blog posts. So those who want more information can stay informed through these posts. Please know that this is the only official source of information and other posts are speculations about an uncertain situation.
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