Genesis discusses bankruptcy terms with creditors
Lending unit Genesis Trading is negotiating bankruptcy terms with creditors to resolve a months-prolonged withdrawal freeze. Genesis discusses bankruptcy terms...
Lending unit Genesis Trading is negotiating bankruptcy terms with creditors to resolve a months-prolonged withdrawal freeze.
According to sources of The blockCryptocurrency loan company Genesis Trading is in discussions with creditors in excess of bankruptcy terms, so it will officially file for Chapter eleven bankruptcy in US courts as early as this week.
The supply explained that lenders will agree to delay Genesis’ loan for one-two many years, in exchange for getting shares in Genesis’ mother or father corporation, Digital Currency Group (DCG).
Earlier, it was reported that Genesis was up to $three billion in debt, with $900 million belonging to end users of the Gemini exchange. The CEO of the Gemini exchange in early January criticized Genesis/DCG for delaying withdrawal instances and exposing inner secrets and techniques in between the two providers. However, DCG CEO Barry Silbert has denied the allegations, despite the fact that he has not outlined a alternative to the latest predicament.
The DCG/Genesis duo was also lately charged by the US Securities and Exchange Commission with an unlawful securities supplying.
Synthetic currency68
Maybe you are interested:
More From Crypto News
FBI Confirms North Korea Role in $6B Binance Hack, Flags BTC, ETH, SOL Addresses
The FBI’s joint alert attributes the attack to TraderTraitor, the same state-sponsored unit behind the Bybit hack.
Binance Says 10 Cryptos Are Fully Backed After Hack
Binance has stated that Bitcoin, Ethereum, XRP, and seven other cryptocurrencies remain fully backed following a reported hack against the exchange.
Why Is Venice Token (VVV) Price Down Today?
Venice Token (VVV) is trading at $22.08 as of October 31, 2026, down 4.29% over the past 24 hours, extending a pullback from the token’s all-time high of $34.58...
Binance Details Response to Reported $6.3 Billion Hack
Binance has publicly outlined its response to a reported $6.3 billion hack, with CEO Richard Teng and the exchange’s official channels issuing statements addres...
Wall Street Analysts Back Crypto Stocks After Binance Hack
Compass Point analysts Ed Engel and Michael Donovan took a measured stance on Binance itself: “We believe Binance has more than enough liquidity to cover the ho...
Why Is Jupiter (JUP) Price Down Today? Key Factors
Jupiter (JUP), the leading decentralized exchange aggregator on Solana, is trading lower on October 30, 2026, extending a pullback that reflects a combination o...
