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On January 19, 2023, Genesis Global Holdco, LLC and two of its lending business subsidiaries, Genesis Global Capital, LLC and Genesis Asia Pacific Pte. Ltd., [12] filed voluntarily petitions under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of New York. Genesis listed over 100,000 creditors with aggregate liabilities in the ...
Crypto lender Genesis Global received court approval on Friday to return about $3 billion in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital ...
Crypto lender Genesis Global has settled a U.S. Securities and Exchange Commission lawsuit over its defunct Gemini Earn lending program, agreeing to a $21 million fine that will be paid only if ...
Genesis, which filed for bankruptcy in January 2023, is part of Digital Currency Group (DCG). It was one of a spate of enforcement actions the SEC has taken against large firms in the crypto sector.
A bankruptcy court judge has approved a plan by the cryptocurrency lender Genesis Global to return about $3 billion to its creditors and investors, including thousands of people who New York ...
Bankrupt crypto lender Genesis Global on Wednesday received permission from a U.S. court to sell about $1.6 billion in Grayscale cryptocurrency trust shares as part of its effort to repay creditors.
On January 19, 2023, Genesis Global Capital filed for Chapter 11 bankruptcy protection, citing over 100,000 creditors and liabilities of between $1 billion and $10 billion. [12] In February 2023, DCG struck a deal with creditors to either sell its Genesis unit or turn its equity over to creditors. [13]
Genesis's lending practice worked with failed firms including the hedge fund Three Arrows Capital and Sam Bankman-Fried's Alameda Research, spurring its own bankruptcy in early 2023.