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ID:

genesis-1422

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Date:

Status:

Incident Count:

January 20, 2023

Verified

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

None

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50 pts

Audit By:

Audits:

None

Loss Amount:

-

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Recovered:

-

Rewards:

Ticker:

USD

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100 pts each

The cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy. Genesis Global Holdco, the parent group of Genesis Global Capital, also filed for bankruptcy protection, along with another lending unit, Genesis Asia Pacific. The company listed over 100,000 creditors in a “mega” bankruptcy filing, with aggregate liabilities ranging from $1.2 billion to $11 billion dollars, according to bankruptcy documents.

Genesis listed a $765.9 million loan payable from Gemini in Thursday’s bankruptcy filing. Other sizeable claims included a $78 million loan payable from Donut, a high-yield, decentralized platform, and a VanEck fund, with a $53.1 million loan payable.

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