January 23, 2023

Bankrupt Genesis Owes a Whopping $3.5Billion to Creditors

Woman depressed over bankruptcy of Crypto Lending Institution Genesis Ⓒ 2023 – Crypto Coin Opps

Genesis, a crypto lender, has filed for bankruptcy protection with over 100,000 creditors. According to a bankruptcy filing published late Thursday night, its sister exchange Gemini has several significant creditors. Trading titan Cumberland, along with Mirana, MoonAlpha Finance and VanEck’s New Finance Income Fund are among the 50 largest of Genesis’ creditors. The End for […]

January 20, 2023

Crypto Exchange Genesis is Close it Its End

Crypto Lender Genesis' Smartphone Screensaver in Front of Bogota, Colombia Skyline Ⓒ 2023 – Crypto Coin Opps

The crypto lending unit of Digital Currency Group (DCG), Genesis Global Capital, is reportedly laying the groundwork for a bankruptcy filing as soon as this week. The company has been in confidential negotiations with various creditor groups amid a liquidity crunch.  Warnings have already been issued that it may need to file for bankruptcy if […]

January 6, 2023

Crypto Exchange Genesis Lays Off 30% Of Staff

Genesis Crypto Lending Company

Recently, the crypto broker Genesis announced a massive layoff of roughly 30% of the company’s workforce. Since November, the exchange is facing serious economical issues. Following the collapse of FTX, Genesis went through several issues, to the point of pondering bankruptcy. In a statement issued to The Wall Street Journal, a Genesis spokesperson talked about […]