As the crypto lender Genesis Global Trading filed for Chapter 11 bankruptcy protection in New York, members of the crypto community went on social media to express their thoughts on the matter. From ...
Tag: Bankruptcy
FTX Bankruptcy Judge Calls Fmr FTX US Exec’s Allegations Against Law Firm ‘Hearsay, Innuendo, Speculation, Rumors’
In a court hearing on Friday morning, the bankruptcy judge overseeing FTX’s case approved the hiring of the law firm Sullivan & Cromwell, and called allegations from a former FTX US compliance off...
Genesis Capital Faces Bankruptcy Hearing on January 23: What’s at stake?
Digital currency trading firm Genesis Global filed for bankruptcy on Jan 20, 2023, citing ‘adverse market conditions’. They are likely to complete their bankruptcy by this year May 19. This filing onl...
Crypto lender Genesis just filed for bankruptcy. Here are the biggest creditors
After weeks of standoffs with customers and regulators, the lending arm of the crypto firm Genesis filed for Chapter 11 bankruptcy late on Thursday night. Genesis, which is part of Barry Silbert’s Dig...
Genesis Expected To File For Bankruptcy This Week
Join Our Telegram channel to stay up to date on breaking news coverage Genesis Global Capital, a troubled crypto lending company, plans to file for bankruptcy as early as this week. Genesis faceds a l...
Genesis files for bankruptcy; Cardano creator wants CoinDesk
The biggest news in the cryptoverse for Jan. 20 saw Genesis Global Capital file for bankruptcy. Elsewhere, Cardano creator Charles Hoskinson confirmed that he is interested in acquiring CoinDesk. ByBi...
Genesis CEO Promises Agile Bankruptcy to Get the Best Outcome
Genesis Global Holdco LLC’s interim CEO Derar Islim assured creditors like Gemini that the firm’s bankruptcy will proceed “quickly and efficiently.” Writing to investors shortly after Genesis filed fo...
Bitcoin Already Priced In Genesis Bankruptcy News? What Next
Bitcoin (BTC) News: Even as crypto lender Genesis Global filed for Chapter 11 bankruptcy protection, the Bitcoin (BTC) price is hardly impacted by the news. The continued strength around the current p...
DCG responds to Genesis bankruptcy; Bitcoin jumps 4% as contagion fears lessen
Digital Currency Group, the parent company of both Genesis and Grayscale, released a statement on Jan. 20 commenting on the news that Genesis had filed for Chapter 11 bankruptcy. Following the stateme...
Genesis’ Largest Transactions Before Bankruptcy Filing Revealed
Nansen’s data revealed that Genesis stood at a balance of $397 million at the time of bankruptcy filing. The largest transactions on the CEX included $51.9M USDC deposited to Coinbase. Followed by $43...
Bybit CEO Confirms Exposure of $150M to Bankruptcy Filed Genesis
9 hours ago | 2 mins read Exchange News The CEO confirmed that the company’s investment arm, Mirana, did have $150M in exposure. Mirana had already liquidated around $120 million in collateralized hol...
Genesis To Wind Up Its Bankruptcy By May
Genesis, which filed for bankruptcy today, was in dispute with Gemini exchange. As per the exchange, Genesis owes nearly $900 million to Gemini customers due to its lending product, Earn. While Genesi...
Crypto lender Genesis files for Chapter 11 bankruptcy
Cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy in the Southern District of New York. The firm has estimated liabilities of $1 billion to $10 billion and assets in the same range, ac...
Genesis Transfers Over $113M To Exchanges Despite Filling for Chapter 11 Bankruptcy Protection
Distressed institutional crypto lending and trading protocol Genesis Trading has transferred digital assets from its wallets to exchanges after filing for bankruptcy protection. Notably, Genesis Globa...
Genesis Files for Bankruptcy in Latest FTX-Fueled Contagion
The collapse of Genesis was major fueled by its deep exposure to two of the most severe bankruptcies in the digital currency ecosystem. After more than a month of exploring its options, Genesis Global...
Genesis Files For Bankruptcy, Crypto Daily TV 20/1/2023
In Todays Headline TV CryptoDaily News: National Australia Bank becomes second Australian bank to build stablecoin. The National Australia Bank, one of the four biggest Australian banks, has created a...
DCG denies involvement in Genesis’ bankruptcy – Cryptopolitan
In a statement that was made public on January 20, the parent firm of Genesis Global Capital, Digital Currency Group (DCG), refuted claims that it was involved in the bankruptcy petition that Genesis ...
Cumberland and Mirana Ventures criticize ‘sloppy’ Genesis bankruptcy filing
Crypto trading firm Cumberland and investment firm Mirana Ventures complained of inaccuracies in Genesis Global’s bankruptcy filing, describing it as “misleading and incorrect” and &...
Bitcoin Shakes Off Genesis Bankruptcy Filing
Bitcoin has not moved as expected despite the news of Genesis, one of the largest crypto lenders in the world, filing for bankruptcy. This lack of negative movement from bitcoin in response to the new...
Genesis Transfers Ethereum, USDT, USDC Worth Millions Amid Bankruptcy
Genesis Trading’s lending business Genesis Global Capital filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. Amid the bankruptcy filing, Gen...
Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy – Bitcoin News
According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, ann...
Bed Bath weighs bankruptcy filing in New Jersey, beefs up legal team
A “Store Closing” banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, Jan. 6, 2023. Johnny Milano | Bloomberg | Getty Images Bed Bath & Beyond is bulking up it...
Crypto Lender Genesis Files for Bankruptcy
Key Takeaways Genesis has filed for bankruptcy. The crypto lender owes over $3.5 billion to its top 50 creditors. Gemini co-founder Cameron Winklevoss is threatening to sue DCG CEO Barry Silbert. Shar...
Bitcoin Gains Another 12% Weekly, Altcoins Lag Behind, Genesis Files for Bankruptcy: The Weekly Recap
The past seven days were packed in terms of price action. The total cryptocurrency market cap sits above $1 trillion, with most of the leading coins charting considerable gains. However, it appears th...
Community Brings Up Conspiracy Following Genesis Bankruptcy
Over recent months, the number of bankruptcy-filing companies in the industry has increased more than usual. The latest Genesis bankruptcy filing raised even more concerns and conspiracy theories amon...
Crypto market unshaken despite Genesis bankruptcy
The cryptocurrency market cap saw net inflows of $11.64 billion in the last 24 hours and currently stands at $976.82 billion — up 1.19% from $965.18 billion. Bitcoin and Ethereum’s market cap grew 1.0...
FTX Collapse Claims Big Victim: Genesis Goes Bankrupt
Another renowned crypto firm is down. The fall of Sam Bankman-Fried’s crypto empire continues to wreak havoc on the cryptocurrency industry. Crypto lender Genesis Global Holdco LLC filed for b...
Genesis aims to move ‘quickly and efficiently’ to exit bankruptcy, interim CEO says
Genesis has a roadmap to exit bankruptcy and hopes to do so as “quickly and efficiently as possible,” interim CEO Derar Islim told clients this morning in a letter obtained by The Block. ...
Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit – Featured Bitcoin News
Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Ge...
Crypto markets hold steady in face of Genesis bankruptcy filing
Crypto markets saw minimal volatility over the past 24 hours despite Digital Currency Group (DCG) subsidiary company Genesis Global Capital filing for Chapter 11 bankruptcy on Jan. 19. Insolvency rumo...