Thu, March 28

Genesis Global’s Creditors Reject Earlier Accepted Restructuring Plan

In a statement released earlier today, the Digital Currency Group (DCG) warned that Genesis Global’s bankruptcy procedures might go on for a long time. Genesis Global is a DCG subsidiary. The company is in trouble since its creditors rejected the bankruptcy restructuring plan that was agreed upon about two months

April 25, 2023 2 mins read

Stellar Foundation Has $13 Million Exposure To Insolvent Genesis

On Thursday, Genesis, a struggling crypto lending behemoth, filed for bankruptcy protection. With the Stellar Development Foundation identified as one of the top creditors. According to Genesis’s bankruptcy papers, the foundation has a claim for $13 million. It was revealed that the foundation extended a loan of roughly $13 million

January 21, 2023 1 min read

Bitcoin & Ethereum Signals Surge Even After Genesis Bankruptcy

Prominent cryptocurrencies Bitcoin ($BTC) and Ethereum ($ETH) continuously signal bullish momentum even after the largest crypto lender, Genesis Global, filed for bankruptcy protection. At the time of writing, $BTC traded at $20,956, and $ETH traded at $1550 with notable price surges.  Recently, failures and scandals in the cryptocurrency industry reaching

January 20, 2023 2 mins read

Genesis Global Files For Chapter 11 Bankruptcy in New York

Genesis Global, a cryptocurrency lender, officially filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York on January 19. The failure of cryptocurrency exchange FTX has resulted in a slew of bankruptcies, the most recent of which being Genesis. It’s also a

January 20, 2023 1 min read

Crypto Lender Genesis Nears to File for Bankruptcy

According to reports, Genesis , a cryptocurrency lender, plans to file for bankruptcy as early as this week. Since FTX’s demise and bankruptcy in November, bankruptcy filing has been expected. As per certain sources, Genesis was discussing a prepackaged bankruptcy plan with its creditors, which would entail striking a restructuring

January 19, 2023 1 min read

Digital Currency Group Pauses Paying Out Quarterly Dividends

In an effort to preserve liquidity, venture capital company Digital Currency Group (DCG) has informed its shareholders that it would not be paying out its quarterly dividends until further notice. In a letter to shareholders dated January 17th. The company stated its intention on “strengthening our balance sheet by reducing

January 18, 2023 1 min read

Genesis and Gemini Are Facing SEC Violation Charges

Genesis Capital and Gemini cryptocurrency exchange has been charged with violations of Sections 5(a) and 5(c) of the Securities Act of 1933, by the U.S. Securities and Exchange Commission (SEC). The charge was made for selling unregistered securities via Gemini Earn crypto asset lending program. Both crypto firms are also

January 13, 2023 2 mins read

Digital Currency Group (DCG) Shuts Downs Wealth Division Unit

Digital Currency Group (DCG), Genesis Global’s parent business, has chosen to shut down its wealth section hours after word of the layoffs spread. Genesis has been experiencing significant liquidity difficulty since the FTX crash, and this is the latest hint of concern. A spokesman for Digital Currency Group (DCG) stated

January 6, 2023 2 mins read

Genesis Announces 30% Layoffs Amid Sluggish Market Conditions

A representative for Genesis Global Trading has confirmed that layoffs occurred on Thursday. Genesis Interim CEO Derar Islim made a public statement before the layoffs were announced. Islim recently said that the company needs more time to find an appropriate solution to the current problems. According to the source with

January 6, 2023 1 min read

FTX Collapse May Lead Crypto Brokerage Genesis to Go Bankrupt

Significantly, the entire market has been affected by the ongoing crisis of FTX and Alameda over recent months. All businesses and sectors linked with crypto space experienced a terrible face of its life. In that line, Alameda or Genesis were the creditors of Genesis global over a certain period. Thus,

December 12, 2022 2 mins read