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...
Tag: Genesis
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...
Court documents show Genesis had $5.1B in liabilities
Bankruptcy court documents filed by Genesis interim CEO Derar Islim show that the now-defunct crypto lending platform owed $5.1 billion to its creditors weeks before it paused withdrawals following th...
Crypto bank Silvergate reveals $2.5M exposure to Genesis
Silvergate Capital, the parent company of Silvergate Bank, revealed limited exposure to Genesis Global Capital in a press release published on Jan. 20. Silvergate said it had less than $2.5 million de...
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...
Bybit CEO offers clarity on exposure to Genesis, but community demands more
Genesis Global Trading, a prominent crypto lender, filed for Chapter 11 bankruptcy protection in New York on Jan. 20, becoming the latest company to declare bankruptcy in the wake of FTX’s collapse. H...
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...
How Decentraland leaders giving money to Genesis completed a flow of capital
Seemingly incestuous business relationships across the cryptosphere appear to have become so commonplace, the market may be numb to it. In the case of Decentraland, its relationship with key inv...
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...
Decentraland going down? Thanks to Genesis – Cryptopolitan
Decentraland, Gemini, Mirana, and Abra are some of the most recognizable names in Genesis creditors. Genesis filed for chapter 11 bankruptcy protection for some of its subsidiaries in the United State...
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...
ByBit CEO’s Genesis Exposure Explanation Sparks Controversy in Crypto Community
Genesis Global Capital, the cryptocurrency lending platform owned and operated by DCG, filed for bankruptcy. According to the court document, the company has around 100,000 creditors. Bybit is one of ...
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...
Genesis Has $226 Million in Claims Against FTX
Genesis – a top crypto lending unit that filed for bankruptcy on Thursday – was listed as FTX’s top unsecured creditor within the exchange’s own bankruptcy documents. The firm has an unliquidated cl...
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...
ByBit CEO clarifies Mirana exposure to bankrupt Genesis
ByBit CEO Ben Zhou said his exchange’s exposure to bankrupt crypto lender Genesis was restricted to its investment arm Mirana. Genesis Global’s chapter 11 filing showed that Mirana was one of its top ...
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...
Will Gemini Follow in the Footsteps of FTX and Genesis? Here’s What You Need to Know!
Gemini, world one of the largest crypto exchanges and the brainchild of the Winklevoss twins is now in deep liquidity trouble. The founders are fighting to get back the customer’s funds held on Genesi...
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...
Bybit Founder Addresses Concerns Over Firm’s $151M Exposure to Bankrupt Genesis
Ben Zhao, the founder of crypto exchange Bybit, took it to Twitter to address concerns raised over the company’s exposure to the now-bankrupt crypto lender Genesis Global Capital. According to court f...
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...
How The Crypto Market Weathered the Genesis Storm?
In the past 24 hours, Bitcoin and Ethereum prices have remained relatively stable despite the bankruptcy filing of Genesis Trading under Chapter 11. According to recent data, Bitcoin is currently trad...