Crypto lender Genesis files for bankruptcy in latest blow to Barry Silbert's DCG empire
Publishing timestamp: 2023-01-20 07:35:26
Summary
Genesis Trading, part of Barry Silbert's Digital Currency Group, filed for bankruptcy protection due to losses from FTX and Three Arrows Capital. The company listed over 100,000 creditors in the filing, with liabilities ranging from $1.2 billion to $11 billion. This follows months of speculation and a lawsuit from the SEC. The bankruptcy puts Genesis alongside other fallen crypto exchanges, and has exposed Silbert's broader DCG empire.
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