A crypto a Genesis a bankruptcy bankruptcy a'bankruptcy bankruptcy bankruptcy?

Crypto lender Genesis filed for Chapter 11 bankruptcy on Thursday. Crypto lender Genesis filed for Chapter 11 bankruptcy this week. The firm ran into trouble last year when Three Arrows Capital couldn't pay back all of a $2.3 billion loan. Genesis insiders detail the crypto lender's financial hardships months leading up to its bankruptcy filing.

What happened to Genesis cryptocurrency?

Genesis was caught in the fallout of the collapse of FTX, the crypto exchange founded by Sam Bankman-Fried. Barry Silbert, the founder of Genesis’ parent company, the Digital Currency Group, in 2019. Joe Buglewicz/Bloomberg David Yaffe-Bellany reports on the cryptocurrency industry.

Why did Genesis go out of business?

The insolvency of Genesis is linked to the bankruptcy of FTX, which went under last November amid allegations of fraud. Genesis had originally been set up as an "over the counter" Bitcoin trading desk, enabling the trade of large amounts of crypto. Earlier this month, it announced it was laying off 30% of its staff, taking it down to 145 employees.

What happened to Genesis Global Holdco?

David Yaffe-Bellany reports on the cryptocurrency industry. The cryptocurrency lender Genesis Global Holdco filed for bankruptcy late on Thursday, the latest crypto company to do so after the collapse of FTX, the exchange founded by Sam Bankman-Fried.