Genesis
Gemini Safeguarded Customers last year by Withdrawing $282M from Genesis for Earn Users’ Fund.
“In August of the previous year, Gemini, the cryptocurrency exchange, clarified that it withdrew $282 million from crypto lender Genesis Global Capital, transferring these funds to its liquidity reserve. This…
Genesis to File for Bankruptcy, Negotiations Fail With Creditors.
Genesis Global Capital has no other option left but files for bankruptcy after it failed to raise capital. The crypto firm’s negotiations with creditors failed to move forward. Reports state…
Genesis Ex-Employees Secure Millions for Crypto Hedge Fund.
Three former employees of Genesis have reportedly raised millions of dollars for a new crypto hedge fund. Matt Ballensweig has sent a message to a prospective investor in mid-December for…
Genesis Trading Denies Its Planning ‘Imminent’ Bankruptcy Filing.
After having warned earlier that it may be facing bankruptcy, Genesis Trading has refuted claims that it is planning an imminent bankruptcy filing if it fails to cover a $1…
U.S Regulators Probe Crypto Firms Including Genesis Global Capital.
Securities regulators in the U.S. are probing Genesis Global Capital and other crypto firms amid FTX’s abrupt and dramatic collapse. Joseph Borg, director of the Alabama Securities Commission, revealed that…
Genesis Won’t Survive Without New Funding: Report.
Genesis has yet to obtain a crucial investment to recover from FTX’s demise and is now thinking about going bankrupt with the defunct exchange. According to persons familiar with the…
Genesis CEO Steps Down Following the 20% Staff Cut.
Michael Moro, the CEO of the popular crypto broker Genesis Global Trading, has stepped down from his CEO position. The news came to light last Wednesday and took the crypto…
Genesis Trading confirms exposure to 3AC, and the parent business helps stop losses.
Genesis Trading is yet another company whose investments were exposed to Three Arrows Capital, since liquidated. 3AC’s insolvent status and order for liquidation has shocked and shaken many in the…
Genesis is dealing with significant losses, a $1 billion loan from BlockFi.
There are two prime reasons behind the fallout of 3AC (Three Arrows Capital) : Liquidation of 1 billion USD loan (lending firm) Genesis made a loss of more than a…
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