Listen to this article. Legal filings have revealed that collapsed crypto exchange FTX owes its 50 biggest creditors more than $3 billion — and it could take them years to get even a small portion of ...
Tag: Genesis
Genesis Trading Warns of Possible Bankruptcy as Post-FTX Fundraising Falters: Report
After its lending arm suspended services last week and spent the weekend on fruitless fundraising efforts, crypto industry stalwart Genesis Trading has warned that it may be facing bankruptcy, Bloombe...
Is Genesis Filing For Bankruptcy?
Genesis has claimed that it is in talks with investors and wants to resolve its fund shortage without filing for bankruptcy. Bankruptcy Filing Not Imminent Crypto lending platform Genesis might not b...
Genesis still consistently inconsistent amid bankruptcy claims
Crypto brokerage Genesis, part of Barry Silbert’s Digital Currency Group (DCG), has warned that if it doesn’t hit target in a fresh funding round, it may go bankrupt. Genesis initially sought a whoppi...
Genesis rejects bankruptcy plans | Blockchain News
People had the impression that Genesis, a company that lends out cryptocurrencies, intended to file for bankruptcy “imminently” if it was unable to pay a deficit of $1 billion brought on b...
Genesis Denis Bankruptcy Rumors! Here’s The Complete Truth
With the foreboding signs of strain at Genesis Trading, a digital asset financial services company, Bitcoin stayed below $16,000 on Tuesday morning, just two days after crossing the threshold for the ...
Gemini Is Working With Genesis to Find Solution for Earn Users
Crypto exchange Gemini revealed working closely with Genesis Trading and its parent company Digital Currency Group, Inc, to find a solution for Earn users to redeem their funds. In a series of tweets,...
Binance Exchange Declines Request to Fund Struggling Genesis
Exchange News The corporation promptly applied for a $1 billion emergency loan. Apollo Global Management was reportedly also approached by the firm for funding. Genesis Global Capital, a lending divis...
Genesis: bankruptcy or possibility of recovery?
The current situation of Genesis, the company specializing in crypto lending, in the wake of the FTX collapse, raises concerns and doubts on the one hand and some hope on the other. This is evident f...
Why Genesis Global Trading may be the latest to bear the brunt of FTX’s actions
Genesis Global Trading has been fielding rumors about its poor financial health ever since FTX went down. Thus, taking with it popular names like BlockFi and potentially Genesis’ sister firm, Grayscal...
Genesis Facing Both Liquidity And Insolvency Issues, Here’s Why
Crypto brokerage firm Genesis reduced its fundraising target from $1 billion to $500 million after facing difficulty raising fresh capital. Ram Ahluwalia, CEO of Lumida Wealth Management, believes Gen...
Crypto Lender Genesis Has No Plans To File Bankruptcy
17 mins ago | 2 mins read Bitcoin News Genesis is facing a liquidity crunch after a torrent of withdrawals due to the FTX collapse. Genesis has had exposure to bankrupt firms – FTX and 3AC. Crypto len...
Gemini is working with Genesis and DCG on solution for Earn redemptions
Gemini said it is working with Genesis and Digital Currency Group in an effort to find a solution that will allow users to redeem their funds from the crypto exchange’s Earn product. Gemin...
Here’s What A Reg M Will Entail For Genesis, DCG And Bitcoin
After Genesis Trading’s lending arm shut down its services last week, the rumor mill started buzzing about a possible bankruptcy of Digital Currency Group (DCG). Especially hot are the rumors that Gra...
Genesis Says It Has No Immediate Plans To Declare Bankruptcy
Genesis, a digital asset financial services company, has denied that it is on the verge of declaring bankruptcy, just days after halting withdrawals in response to the collapse of crypto exchange FTX....
Genesis Bankruptcy Warning Weighs on Crypto Markets
(Bloomberg) — Crypto brokerage Genesis warned of the risk of bankruptcy amid contagion from the rapid demise of Sam Bankman-Fried’s FTX empire. Most Read from Bloomberg Tampa Bay Buccaneers quar...
Genesis Bankruptcy Jitters Send Bitcoin to Fresh Low
Days after its lending unit was forced to halt withdrawals in wake of the collapse of crypto exchange FTX, Genesis Global Trading has mentioned bankruptcy as a potential option as it seeks fresh capit...
Bitcoin tumbles to fresh lows as Genesis denies imminent bankruptcy
Bitcoin briefly tumbled to its lowest level in two years on Monday after Bloomberg News reported that Genesis, the digital-asset brokerage and lender, has told investors it could be forced to file for...
Bitcoin, Ethereum Tumbles As Genesis Warns Of Bankruptcy
Crypto News Today Live Updates November and Latest News: (22 November 2022) The global digital asset market tumbled by another 2% on Tuesday morning after Genesis reportedly warns of possible bankrupt...
Genesis denies ‘imminent’ plans to file for bankruptcy
Cryptocurrency lending company Genesis has refuted speculation that it is planning an “imminent” bankruptcy filing should it fail to cover a $1 billion shortfall caused by the fall of cryp...
Binance Cites Conflict of Interest for Investing in Genesis
Crypto brokerage firm Genesis Trading is struggling majorly to raise fresh capital in its current time of distress. As per the latest WSJ report, the crypto lender also approached players like Binance...
Genesis Will Go Bankrupt Without Fresh Funding: Report
Genesis, the crypto brokerage platform that froze withdrawals last week, may resort to bankruptcy if it fails to raise money from potential investors, according to people familiar with the matter. As ...
Binance will not invest in crypto lender Genesis: WSJ
After crypto lending firm Genesis suspended client redemptions and indicated it would seek a $1 billion emergency cash loan, major potential backer Binance said no to the investment, the Wall Street J...
Genesis fails to raise funds as FTX contagion weighs on DCG-owned company
Crypto brokerage Genesis failed to raise funds and is potentially facing bankruptcy without additional funding, Bloomberg reported Nov. 21. The company is rumored to be seeking a $1 billion cash inje...
Disney reappoints Genesis adviser Robert Iger as CEO – crypto.news
Bob Iger, a supporter of the Metaverse, has announced a sudden return to his previous position as Disney’s CEO, succeeding the company’s former CEO, Bob Chapek. Since he left The Walt Disney Company, ...
Genesis warns of possible bankruptcy without funding: Bloomberg
Genesis is having a hard time raising cash for its lending unit, and it is warning potential investors it could possibly file for bankruptcy if it is unable to do so, Bloomberg reported, citing people...
Genesis received over $1B worth of FTT from Alameda, FTX in last 3 months
An analysis of the Arkham Intelligence dashboard CryptoSlate Research shows that popular crypto lender Genesis received billions in FTT tokens from bankrupt crypto firms Alameda Research and FTX over ...
Coinbase Eases Tides, Rumors Of Genesis Disaster Intensify
Crypto lending firm Genesis and its parent company, Digital Currency Group (DCG), are under pressure, and there are growing concerns about their potential default. Last week, the crypto lender halted ...
D-Day Looms For Bitcoin – Are DCG / Genesis Going Bankrupt?
The question of whether Genesis Trading and Digital Currency Group (DCG) will go bust currently hangs over the crypto and Bitcoin market like a sword of Damocles. In the event of bankruptcy, DCG could...
From Temasek to Genesis, here’s the direct impact of FTX failure on other corporates.
Over the first two weeks of November, crypto exchange FTX went from leading crypto exchange to a $16 billion bankruptcy – this year’s largest so far. Insiders, customers, the press, and re...