Genesis, a cryptocurrency lending company, has filed a petition for bankruptcy protection under Chapter 11 in the Southern District of New York. According to the filing from January 19th, the company ...
Tag: Bankruptcy
BTC Back Above $21,000 Despite Genesis Bankruptcy – Market Updates Bitcoin News
Bitcoin crept back up to the $21,000 level on Friday, as volatility in the cryptocurrency market remained high. After falling by nearly 4% in Thursday’s session, the global market cap is up by 1.14% a...
Genesis Global Files For Chapter 11 Bankruptcy in New York
5 hours ago | 2 mins read Editors News The report comes just two days after the rumor was first made public. Genesis has $175 million of its own stranded on FTX. Genesis Global, a cryptocurrency lende...
Genesis Files for Bankruptcy, Has $150 Million In the Bank
Digital currency brokerage Genesis announced that it filed for Chapter 11 bankruptcy late Thursday. “An in-court restructuring presents the most effective avenue through which to preserve assets...
Genesis Files Chapter 11 Bankruptcy as Winklevoss Threatens Legal Action
Genesis Trading declared bankruptcy after incurring catastrophic losses due to the broader crypto market collapse. The bankruptcy filing has identified $1.2 to $11 billion in total liabilities and 100...
Genesis files for chapter 11 bankruptcy as Winklevii threaten DCG lawsuit
Late Thursday night, Genesis Global announced it voluntarily filed for chapter 11 bankruptcy, along with its crypto lending arm Genesis Global Capital and lending unit Genesis Asia Pacific. In a press...
Genesis Global caves to liquidity issues, files for Chapter 11 bankruptcy
Genesis Global — a Digital Currency Group (DCG) subsidiary — filed for Chapter 11 bankruptcy protection on Jan. 19 in the bankruptcy court of the Southern District of New York, it said in a press rele...
Sam Bankman-Fried Insists Bankruptcy Team Is Wrong About FTX US Insolvency
Despite repeated claims from the FTX bankruptcy restructuring team that both the international and U.S. exchanges are missing millions worth of customer funds, disgraced ex-CEO Sam Bankman-Fried says ...
Genesis’ crypto lending businesses file for Chapter 11 Bankruptcy Protection
Genesis, along with its 2 subsidiaries, filed for Chapter 11 bankruptcy protection last Thursday following the collapse of FTX and Three Arrows Capital. The application has been filed by Genesis Globa...
Crypto Giant Genesis Files For Bankruptcy As Casualties Mount After FTX Collapse
Topline Cryptocurrency lender Genesis filed for bankruptcy late Thursday night, court documents show, the latest major player to fold and another blow to the sector as it struggles to recover from the...
BREAKING NEWS: Crypto Lender Genesis Files For Chapter 11 Bankruptcy As Crisis Deepens
Genesis Global Holdco, the parent company of embattled cryptocurrency lender Genesis Global Capital, has filed for Chapter 11 bankruptcy protection, becoming the latest firm to cave in to pressure in ...
Crypto lender Genesis Trading files for bankruptcy protection
Barry Silbert, Founder and CEO, Digital Currency Group David A. Grogan | CNBC Crypto lender Genesis filed for Chapter 11 bankruptcy protection late Thursday night in Manhattan federal court, the lates...
Winklevoss Threaten to Sue DCG as Genesis Files for Bankruptcy – Trustnodes
Cameron Winklevoss, the CEO of Gemini Earn which held $950 million in Genesis, threatened to sue the Digital Currency Group (DCG) after its subsidiary filed for bankruptcy. “The decision to put Genesi...
Genesis owes more than $3.6 billion to top 50 creditors
Genesis Global, which filed for bankruptcy protection in New York late Thursday, owes more than $3.6 billion to its top creditors. After filing for Chapter 11 bankruptcy protection in the U.S. B...
DCG’s Subsidiary Genesis Global Files for Chapter 11 Bankruptcy
Digital Currency Group (DCG) subsidiary Genesis has finally filed for Chapter 11 bankruptcy in the Southern District of New York (SDNY) court late Thursday night. The platform was engaged in a series ...
Party City Files for Bankruptcy. Why the Party Won’t Stop for Other Retailers.
Party City ‘s decadeslong jamboree is coming to an end, now that the retailer has filed for bankruptcy protection following years of weak financial results. The company said it filed for voluntary cha...
Breaking News: Crypto Lender Genesis Files for Bankruptcy
Genesis Global Holdco, LLC, the holding company of unsettled crypto lender Genesis Global Capital, filed for Chapter eleven bankruptcy security in New York district court late on Thursday. This was al...
Digital Currency Group’s Genesis Global files for bankruptcy protection
Genesis Global Holdco filed for bankruptcy protection late Thursday in New York federal district court. The news comes after the firm failed in a bid to raise cash for its troubled lending unit and cu...
Genesis Might File for Bankruptcy: When Will This Chain Stop?
Genesis owes more than $3 billion to its creditors. It had prolonged exposure to FTX and 3AC. Asked industry bigs for a cash injection. Crypto conglomerate Digital Currency Group is also affected b...
Genesis creditors back Winklevoss promissory note claim as possible bankruptcy looms
Genesis Global Capital labeled a $1.1 billion promissory note from parent Digital Currency Group as a current asset in conversations with creditors, bolstering the appearance of a stronger balance she...
Law firm Sullivan & Cromwell to face scrutiny in FTX bankruptcy hearing Friday
Sam Bankman-Fried used to work out of Sullivan & Cromwell’s office in New York City. Now, the law firm is facing scrutiny over whether it can investigate FTX, the disgraced former billionaire’s cr...
The state of the market after the FTX bankruptcy
Since the bankruptcy of FTX, the exchange whose CEO was Sam Bankman-Fried, many vicissitudes have taken place in the blockchain industry. For example, Bitget, the industry-leading cryptocurrency deriv...
New FTX CEO says the crypto exchange could be restarted: WSJ
Update: Former FTX CEO Sam Bankman-Fried responded on Twitter to John Ray III’s plan to restart the exchange. “I’m glad Mr. Ray is finally paying lip service to turning the exc...
Will Bitcoin Price Fall If Genesis Files Bankruptcy?
After the DXY fell intra-day to a new 7-month low of 101.56 yesterday, the Bitcoin price briefly managed to tackle the key resistance zone above the $21,500 mark, reaching its highest level since Sept...
Crypto Market Analysis: With the Genesis Preparing for Bankruptcy, This Could be the Possible Impact on Bitcoin Price!
No sooner than the crypto space was experiencing relief, yet another turbulence struck the markets. It was speculated for quite a long time that the ripple effects of the FTX fallout may carry for a l...
Genesis Global To File For Bankruptcy As Early As This Week
In light of the current shortage of liquid assets–Genesis Global–the crypto lending division of Digital Currency Group (DCG) has been engaged in private discussions with a variety of creditor parties....
Genesis Global Capital Is Reportedly Preparing For A Bankruptcy Filing
– Advertisement – Genesis Global Capital is reportedly preparing to file for bankruptcy. The DCG subsidiary has been in negotiations with several creditor groups. Genesis has been struggl...
Genesis bankruptcy filing expected soon
The cryptocurrency lending industry is facing yet another setback as Genesis Global Capital plans to file for bankruptcy in the coming days. According to Bloomberg News, sources familiar with the sit...
Crypto Lender Genesis Nears to File for Bankruptcy
3 hours ago | 2 mins read Editors News Crypto Lender Genesis is planning to file for bankruptcy The DCG officially confirmed that it had quit paying dividend payments. According to reports, Genesis ,...
Genesis reportedly preps for bankruptcy filing; ConsenSys plans layoffs
The biggest news in the cryptoverse for Jan. 18 saw rumors circulate suggesting that Genesis is preparing a prepackaged bankruptcy filing. Meanwhile, Ethereum development firm ConsenSys announced that...