JUST IN: Genesis Global has filed for bankruptcy in the Southern District of New York
after being pummeled by two of 2022's biggest industry collapses.
In its filing, Genesis Global Capital, the partner firm to Gemini's defunct Earn program, estimated more than 100,000 creditors and between $1 billion and $10 billion in liabilities, as well as assets. The two other entities estimated their assets and liabilities in the $100 million and $500 million range, respectively.
In its filing, Genesis Global Capital said it expects that through the restructuring process, there will be money left over to pay unsecured creditors – a group that can get wiped out in bankruptcy cases if the situation is extremely dire.forced to suspend
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Crypto Brokerage Genesis Global Capital May Be Nearing Bankruptcy Filing: ReportsThe collapse of FTX in late 2022 may have been the final straw for Genesis, which earlier that year reportedly suffered losses of several hundred million dollars due to its exposure to failed crypto hedge fund Three Arrows Capital.
Lire la suite »
Crypto lender Genesis preparing to file for bankruptcy - Bloomberg NewsCryptocurrency lender Genesis Global Capital is planning to file for bankruptcy as soon as this week, Bloomberg News reported on Wednesday, citing people with knowledge of the situation.
Lire la suite »
Crypto lender Genesis plans to file for bankruptcy as early as this week: reportCrypto lender Genesis Global Capital is reportedly preparing to file for bankruptcy as early as this week, according to a Bloomberg article Wednesday.
Lire la suite »
Crypto lender Genesis eyes bankruptcy filing as soon as this week: reportCrypto lender Genesis is reportedly preparing to file for bankruptcy as soon as this week
Lire la suite »
Genesis Capital braces for bankruptcy filing: ReportGenesis, one of crypto's marquee names, has been the subject of bad press for weeks.
Lire la suite »
Crypto Lender Genesis Is Preparing to File for Bankruptcy Within DaysBreaking: Crypto lender Genesis Global Capital is preparing to file for bankruptcy within days, people familiar with the matter say
Lire la suite »