Genesis files for chapter 11 bankruptcy as Winklevii threaten DCG lawsuit
Genesis Global has voluntarily filed for bankruptcy, along with its crypto lending arm, as parent firm DCG faces rising financial distress.
Cryptocurrency news by Protos · Protos
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Show Notes
Late Thursday night, Genesis Global announced it voluntarily filed for chapter 11 bankruptcy, along with its crypto lending arm Genesis Global Capital and lending unit Genesis Asia Pacific. In a press release, Genesis used every buzzword it could think of to frame the move in a positive light.
Genesis initiates process to achieve global resolution to maximise value for all clients and stakeholders and strengthen its business for the future, the headline to announce its bankruptcy reads.
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