Bitcoin IRA deposits at Genesis could leave retirees broke
Unbeknownst to thousands of retirees who used Bitcoin IRA, a lot of their funds were stored with Genesis which could soon file for bankruptcy.
Cryptocurrency news by Protos · Protos
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Show Notes
Genesis Trading is struggling to raise new capital and warned of a possible restructuring in the wake of the FTX bankruptcy. It has frozen retirement funds held by Bitcoin IRA customers.
It may become the latest victim of a bad year for digital asset investment companies. It already froze withdrawals of deposited assets. This move could hurt owners of retirement accounts who deposited funds on Bitcoin IRA’s IRA Earn product.
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