Bankruptcy judge approves $175 Million settlement between FTX and Genesis Global Trading

Following the court’s decision, Genesis debtors have gained authorization to execute the settlement agreement, which entails the payment of $175 million to FTX.

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Genesis Halts Withdrawals After Court Orders to Pay $175M to FTX

Genesis Global Trading navigates through legal storms, settling a $175 million lawsuit with FTX, while pausing customer withdrawals, unveiling the intricate fiscal maneuvers within the crypto industry.

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Judge Denies FTX Chance to Participate in Genesis Mediation Talks

US Bankruptcy Judge Sean Lane has granted Genesis more time to submit a payout proposal, despite requests from FTX and other creditors for Genesis to pay back funds. FTX claims Genesis owes it $3.

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FTX files objection to Genesis after being snubbed in $0.00 claim estimate

FTX and its associated debtors declared numerous objections to Genesis’s bankruptcy proceedings and recovery plans in a June 2 court filing. FTX’s claim estimated at zero On May 9, Genesis began to seek a 100-day extension for its Chapter 11 recovery plan.

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Crypto Biz: FTX clawbacks, Genesis silver lining?

As FTX seeks clawbacks on political donations, Digital Currency Group and its bankrupt subsidiary, Genesis, have reached a restructuring agreement.

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Xclaim - a Marketplace for Crypto Bankruptcy Claims

Matthew Sedigh is the CEO at Xclaim, a marketplace for crypto bankruptcy claims. Users who have accounts with stranded assets at FTX, Genesis, Celsius, Voyager or BlockFi can sell the claim on their account to recover some liquidity.

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Crypto Lending Firms Hit Worst As FTX Crises Spreads

The collapse of the FTX exchange may have been the worst sting ever for the crypto industry since it continues to cause more crypto companies to collapse. The latest victim is Genesis Global, which filed for bankruptcy under Chapter 11 of the US bankruptcy act.

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Latest FTX Creditor List Could Spell the End of Crypto Shadow Banks

FTX creditor list reveals shadow banks like Genesis whose influence on crypto prices is likely to grow weaker. The post Latest FTX Creditor List Could Spell the End of Crypto Shadow Banks appeared first on BeInCrypto.

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Genesis Global Capital подала заявление о банкротстве: виноваты Three Arrows Capital и FTX

Платформа Genesis Global Capital сегодня подала заявление о несостоятельности в соответствии с Главой 11 Кодекса США о банкротстве. Заявки были направлены от имени Genesis Global Holdco и ее дочерних компаний Genesis Asia Pacific и Genesis Global Capital.

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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.

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Компания Genesis Capital подала заявление на банкротство

Компания Genesis Capital подала заявление на банкротство в суд Южного округа Нью-Йорка. К такому решению привел крах фонда Three Arrows Capital и биржи FTX.

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Genesis' Crypto Lending Businesses File for Bankruptcy Protection

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.

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Genesis Global files for bankruptcy

The parent firm of embattled crypto lender Genesis Global Capital, Genesis Global Holdco, LLC, filed for Chapter 11 bankruptcy protection in New York federal district court. FTX collapse, the breaking point for Genesis Genesis Global Holdco, LLC estimated in a…

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Genesis' Crypto Lending Businesses Files for Bankruptcy Protection

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.

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Crypto Brokerage Genesis Global Capital May Be Nearing Bankruptcy Filing: Reports

Genesis had previously halted customer withdrawals following FTX's epic collapse.

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SBF denies stealing FTX assets, SEC charges Gemini and Genesis, and more: Hodler’s Digest: Jan. 8-14

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US SEC has filed charges against Gemini and Genesis

The US SEC is accusing Gemini and Genesis of selling unregistered securities. Genesis and Gemini did not register their partnership as a lending partnership. Genesis has been having liquidity issues after FTX’s collapse and has paused withdrawals to date.

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Миллиардер Кэмерон Уинклвосс и глава DCG разошлись во взглядах на криптовалютные риски

Лендинговый продукт Earn стал причиной дискуссии о распределении рисков в криптосфере. «Эхо» коллапса криптобиржи FTX продолжает сказываться на криптосфере. Лендинговый продукт Earn, который был запущен криптобиржей Gemini в партнерстве с OTC-трейдинговой платформой Genesis Trading, оказался в сложной финансовой ситуации, а выплаты по этому продукту были «заморожены» в середине ноября 2022 года. Накопленные обязательства по этому […]

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Digital Currency Group: Is the Fallout From FTX Over, or Is the Worst yet to Come?

After the FTX collapse, concerns around the Digital Currency Group (DCG) and its subsidiaries (Genesis, Grayscale) began spreading across the industry. Can the crypto market witness yet another contagion? Fears around the most exposed and whether this could lead to a chain reaction of cascading liquidations and insolvencies.

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Genesis CEO asks for patience from clients amid Gemini pressure

Genesis Trading, the cryptocurrency brokerage and lender that halted customer withdrawals in the aftermath of FTX collapse, believes it can sort out its financial problems. However, it needs more time in order to accomplish this, the troubled crypto lender’s interim CEO Derar Islim said.

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Crypto Broker Genesis' CEO Tells Clients It Needs More Time to Sort Out Finances

Genesis halted withdrawals in November in aftermath of FTX's collapse.

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Gemini Accuses DCG of Being Behind Genesis’ Woes

Gemini’s co-founder Cameron Winklevoss wrote an open letter Tuesday accusing Barry Silbert, CEO of DCG, the parent company of Genesis trading, of causing the latter’s collapse. Genesis Global Trading temporarily suspended withdrawals in November due to liquidity issues resulting from the demise of FTX.

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3AC founder Zhu Su alleges DCG and FTX caused the fall of LUNA and STETH

Seven months down the line, 3AC founder, Zhu Su, has come out openly to blame Digital Currency Group (DCG), the parent firm behind Grayscale Investments and Genesis Trading, for the collapse of Terra.

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US DoJ names Genesis in FTX creditors committee

Crypto lending platform Genesis, along with popular crypto market maker Wintermute and others, will form the FTX creditors committee. Genesis and other FTX victims form the bankruptcy committee A court filing released today showed that the Justice Department had added…

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First Mover Asia: QCP Capital Founder Sees Crypto Industry’s Immediate Future Tied to Genesis Debacle, Expects Rebound in 2024

During a panel discussion at Taipei Blockchain Week, Darius Sit noted the continued institutional adoption of the crypto options and derivatives market, among industry high points; former FTX CEO Sam Bankman-Fried arrested.

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Genesis Block customer funds sent directly to Alameda accounts before FTX fall out

There is data to suggest that the customer funds sent to Genesis Block were processed and received by Alameda, according to emerging reports from Mike Burgersburg of Dirty Bubble Media. The post Genesis Block customer funds sent directly to Alameda accounts before FTX fall out appeared first on CryptoSlate.

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До Квон обвинил FTX и Genesis в падении проекта Terra

Соучредитель Terraform Labs призвал проблемные FTX и Genesis рассказать общественности правду и раскрыть роль в гибели экосистемы Terra LUNA.

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Genesis yet to enable customer withdrawals amid FTX contagion

Genesis, a US-based crypto lending platform, informed its customers that withdrawals might be halted for weeks while it develops a plan to avoid potential bankruptcy.

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Genesis Client Letter Suggests No Imminent Solution to Withdrawal Freeze

The institutional crypto brokerage has been in talks with creditors and potential investors since the collapse of exchange FTX.

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Former FTX CEO May Have Influenced Alameda Research to Invest $1.15B in Mining Firm Genesis Digital

Coinspeaker Former FTX CEO May Have Influenced Alameda Research to Invest $1. 15B in Mining Firm Genesis Digital Alameda consulted troubled entrepreneur Sam Bankman-Fried before investing in Genesis Digital.

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Alameda инвестировала 1,15 млрд долларов в майнинг криптовалют

Крупнейшая инвестиция трейдинговой компании криптобиржи FTX была ориентирована на майнинг биткоинов. Согласно появившимся данным о деятельности Alameda, трейдинговой компании криптобиржи FTX, самая крупная инвестиция Alameda (1,15 млрд долларов) и других юридических лиц, входивших в экосистему FTX, — это компания Genesis Digital Assets, которая занимается майнингом криптовалют, в основном — биткоинов. Одна из последних инвестиций (250 […]

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Bitcoin Miners’ FTX Contagion Exposure May Amplify Industry Pain

Core Scientific, Bitfarms and Genesis Digital Assets are among miners that have direct and indirect exposure to the contagion.

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FTX Contagion Revives Dreaded 2022 Crypto Knell – the ‘Withdrawal Halt’

The downfall of the FTX exchange has caused a domino effect: a growing list of crypto firms, such as BlockFi and Genesis, halting withdrawals. CoinDesk counts 15 of these announcements just this year.

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DCG CEO Barry Silbert addresses investors’ concerns in a letter to shareholders

The crypto contagion sparked by the downfall of FTX seems to have found its latest victim- Genesis Global Capital. However, the trouble isn’t limited to the New Jersey-based crypto lender. MarkeThe post DCG CEO Barry Silbert addresses investors’ concerns in a letter to shareholders appeared first on AMBCrypto.

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First Mover Americas: FTX’s First Hearing, Genesis Seeks Help

The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 23, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

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CryptoSlate Wrapped Daily: Bitcoin miners continue to sell as realized loss from FTX exceeds LUNA collapse

The biggest news in the cryptoverse for November 22 includes the increasing rate of miner sellouts, realized Bitcoin loss from FTX fallout surpassing the losses caused by the Terra collapse, and Digital Currency Group CEO Barry Silbert’s comments regarding the liquidity situation at Genesis.

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Silbert downplays liquidity crisis, expects $800M revenue in 2022 for DCG

Following rumors of potential contagion from FTX, Digital Currency Group (DCG) CEO Barry Silbert sent shareholders a memo on November 22 addressing the situation surrounding Genesis’ liquidity.

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Ситуации с Genesis может развернуть цену биткоина к 10 тыс. долларов

Криптолендинговая платформа Genesis стала испытывать сложности с ликвидностью ещё после краха инвестиционного фонда The Arrows Capital. Крах криптобиржи FTX продолжает затрагивать не только около 100 компаний, которые находятся в экосистеме этой площадки с Багамских островов, но и некоторых других участников криптосферы.

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Genesis fails to raise funds as FTX contagion weighs on DCG-owned company

Crypto brokerage Genesis failed to raise funds and is potentially facing bankruptcy without additional funding, Bloomberg reported  November 21. The post Genesis fails to raise funds as FTX contagion weighs on DCG-owned company appeared first on CryptoSlate.

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Research: Genesis received over $1B worth of FTT from Alameda, FTX in last 3 months

An analysis of the Arkham Intelligence dashboard CryptoSlate Research shows that popular crypto lender Genesis received billions in FTT tokens from bankrupt crypto firms Alameda Research and FTX over the past year.

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Op-Ed: Could DCG be the catalyst for max pain in the crypto markets?

Following the recent collapse of FTX, the fallout spread to Genesis, which had already been bailed out by parent company Digital Currency Group (DCG) earlier this year following the failure of Three Arrows Capital.

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‘Grayscale Discount’ Widens to Record 43% as FTX Contagion Spreads

The added pressure comes after Genesis Global Capital – a corporate sibling to bitcoin trust manager Grayscale Investments – halted customer withdrawals from its lending unit this week.

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Hong Kong’s top cryptocurrency retail operator halts trading after FTX fiasco

Genesis Block, a famous crypto retail services company in Hong Kong, announced that it had stopped trading as the effects of the implosion of FTX and liquidity problems at other significant cryptocurrency enterprises are still shaking the sector. Genesis Block…

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Crypto Firm Genesis Block Ceases Trading Services Amid FTX Contagion: Report

The Hong Kong-based company was once Asia’s largest Bitcoin ATM player.

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Korean crypto exchange GOPAX halts Genesis-backed DeFi amid FTX crisis

South Korean crypto exchange GOPAX has announced suspending principal and interest payments in its DeFi service GOFi, which brokers products from global crypto lender Genesis Global Capital.

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Crypto price prediction: SSV, SafePal (SFP), Chiliz (CHZ)

Cryptocurrency prices remained on edge this week as the collapse of FTX continued. During the week, Genesis, a leading crypto exchange, suspended its withdrawals briefly. Similarly,  a crypto lender associated with Digital Currency Group (DCG) suspended most of its business.

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Genesis sought $1B emergency loan but never got it

Crypto lender Genesis sought out an emergency loan of $1 billion from investors in the wake of FTX’s collapse and ensuing bankruptcy but never got the funds it requested, The Wall Street Journal reported November 17.

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Bakkt claims to have no financial exposure to troubled crypto firms

Bakkt Holdings has revealed that it has no exposure to FTX, FTT, Alameda, Genesis, or companies that have halted activities due to the ongoing contagion in the crypto markets. The company made this known in a press release on November…

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Are your funds safe? Crypto lending platforms continue to fall

Key Takeaways Genesis Capital have become the latest firm to get caught up in the crypto crash, suspending withdrawals yesterday Gemini soon followed, suspending withdrawals on their Earn product These are all yield -earning services, however – very different from FTX FTX’s biggest transgression was masquerading as an exchange while acting as a hedge fund, […] The post Are your funds safe? Crypto lending platforms continue to fall appeared first on CoinJournal.

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