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Bankruptcy
Next Steps After Genesis’ Crypto Lending Businesses File for Bankruptcy
Genesis Global Holdco LLC, the holding company of cryptocurrency lender Genesis Global Capital, files for Chapter 11 bankruptcy protection. Wilk Auslander LLP Partner Eric Snyder discusses the next steps for the troubled lender and how the dispute between Gemini, one of the creditors, and Digital Currency Group (DCG) could potentially be resolved. DCG is the parent company of Genesis and CoinDesk.
Genesis’ Crypto Lending Businesses File for Bankruptcy Protection
Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection in New York after being pummeled by two of 2022's biggest industry collapses. CoinDesk News Desk Managing Editor Danny Nelson discusses what we know so far. DCG is the parent company of CoinDesk and Genesis.
Sullivan & Cromwell Gets Go-Ahead to Represent FTX in Bankruptcy Proceedings, Despite Controversy
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
Three of the institutional crypto brokerage's entities filed for Chapter 11 protection late Thursday.
Fairfax County, Virginia, Pension Funds Exposed to Genesis Bankruptcy
Two pension funds from the county invested $35 million in a VanEck fund listed as a Genesis creditor.
Legal Expert on Genesis' Crypto Lending Unit Filing For Bankruptcy
Wilk Auslander LLP Partner Eric Snyder discusses the legal and industry implications of Genesis Global Holdco LLC, the holding company of crypto lender Genesis Global Capital, filing for Chapter 11 bankruptcy protection. He also weighs in on Gemini CEO Cameron Winklevoss threatening to sue DCG CEO Barry Silbert over the repayment of a $900 million loan. DCG is the parent company of CoinDesk and Genesis.
Crypto Trading Firm Cumberland DRW Disputes Genesis Exposure
The Chicago-based firm was listed among Genesis' creditors in the amount of $18 million, but Cumberland said that's too high. The document includes "misleading and incorrect information," Cumberland tweeted.
Crypto Lender Genesis Is FTX's Largest Unsecured Creditor With $226M in Claims
Genesis Global Capital leads the revised list that un-redacted the names of several creditors.
Digital Currency Group Owes Subsidiary Genesis Global Over $1.65B
Genesis filed for Chapter 11 bankruptcy protection Thursday, listing debts of roughly $3.5 billion.
