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Genesis' bankruptcy filing was decided by independent committee according to DCG
20.1.2023
A special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection
What's Next for Genesis Creditors? It Depends on What's in the Bankruptcy Filing
20.1.2023
Eric Snyder, partner at Wilk Auslander LLP, says that a substantial amount of haircuts are likely to be made, but that depends on the petition Genesis’ trio of companies filed
FTX Debtors’ List of Assets Omits Mention of Large Stash of NFTs and ENS Names Owned by Alameda
20.1.2023
This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda...
Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy
20.1.2023
According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, announced his intentions to purchase Coindesk along with other members of the crypto industry. This...
FTX bankruptcy lawyer: debtors face 'assault by Twitter' stemming from Sam Bankman-Fried
20.1.2023
The judge ruled there were no potential conflicts of interest sufficient to stop Sullivan & Cromwell from continuing to act as the debtors' counsel
Sullivan & Cromwell Gets Go-Ahead to Represent FTX in Bankruptcy Proceedings, Despite Controversy
20.1.2023
James Bromley, a partner at Sullivan & Cromwell, said former CEO Sam Bankman-Fried has been stirring the pot by “lashing out” on Twitter
Genesis Claims $5.1B in Liabilities in First Day Bankruptcy Filing
20.1.2023
Three of the institutional crypto brokerage's entities filed for Chapter 11 protection late Thursday
Fairfax County, Virginia Pension Funds Exposed to Genesis Bankruptcy
20.1.2023
Two Washington, DC-area pensions invested $35 million in a VanEck fund listed as a Genesis creditor
Top 3 Reasons Why Crypto Prices Are Not Plummeting After Genesis Bankruptcy News
20.1.2023
Genesis is one of the largest companies in the Bitcoin and crypto space, and has this morning announced that they are to be entering into a chapter 11 bankruptcy filing, after many of the loans that they issued to various parties in the crypto space soured.
Many in the cryptocurrency space...
Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit
20.1.2023
Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations...
Former FTX Lawyer Opposes Hiring Sullivan & Cromwell for Bankruptcy
20.1.2023
Individual objectors have sought to delay an FTX hearing in the United States Bankruptcy Court in the district of Delaware scheduled at 10:00 a.m. EST on January 20, 2023 expected to be about whether FTX can retain the services of New York law firm Sullivan & Cromwell (S&C) amid allegations from...
Bitcoin, Ethereum Technical Analysis: BTC Back Above $21,000 Despite Genesis Bankruptcy
20.1.2023
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% as of writing. This comes despite the news that crypto lender Genesis has recently filed...
Genesis bankruptcy filing sparks various community responses
20.1.2023
A crypto analyst illustrated how crypto firms were potentially connected throughout all the recent bankruptcies
Genesis’ crypto lending businesses file for Chapter 11 Bankruptcy Protection
20.1.2023
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 Global Holdco, Genesis Asia Pacific Pte, and Genesis Global Capital, seeking a joint administration...
Genesis Files for Bankruptcy as it Seeks Protection From its Creditors – Which DCG Unit is Next to Fail?
20.1.2023
After months of struggling, crypto lending and trading firm Genesis has filed for bankruptcy - but it's not the end of its troubles.
Genesis, a unit of the Digital Currency Group (DCG), said in a press release that Genesis Global Holdco, LLC and two of its lending business subsidiaries, Genesis...
BTC, ETH Hold Steady After Genesis' Bankruptcy, Crypto Traders Say Bad News Was Priced In
20.1.2023
The path of least resistance for crypto is on the higher side, one observer said, drawing attention to bitcoin's tendency to carve out double-digit gains during the Chinese New Year holidays
Cameron Winklevoss Threatens Legal Action Against DCG CEO After Genesis Bankruptcy
20.1.2023
The Gemini CEO has been involved in a weeks-long public spat with DCG over the repayment of a $900 million loan
Crypto lender Genesis files for bankruptcy
20.1.2023
Crypto lender Genesis Global has become the latest firm to throw in the towel following the collapse of FTX, filing for Chapter 11 bankruptcy protection in New York
Genesis' Crypto Lending Businesses Files for Bankruptcy Protection
20.1.2023
The collapse of FTX was the final straw for Genesis, which earlier this year suffered losses of several hundred million dollars due to its exposure to failed crypto hedge fund Three Arrows Capital
New FTX CEO Discusses Possibility of Rebooting Defunct Crypto Exchange in First Interview Since Taking Over
19.1.2023
Following recent disclosure that FTX debtors and bankruptcy administrators located $5.5 billion in liquid assets, the new FTX CEO John J. Ray III discussed the business in his first interview since taking over the exchange’s restructuring process. Ray detailed during the interview that he...