What happened to Genesis?

Photograph: Dado Ruvić/Reuters The cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy in the US, becoming the latest victim of the shakeout in the digital asset market after the collapse of the crypto exchange FTX.

Who owns Genesis bank?

The company is owned by venture capital firm Digital Currency Group. Genesis’ lending unit said it had both assets and liabilities in the range of $1 billion to $10 billion in its filings with the US Bankruptcy Court for the Southern District of New York.

What happened to Genesis Global Capital & Genesis Asia Pacific?

Genesis Global Capital and Genesis Asia Pacific, two subsidiaries the parent firm said were only involved in its lending business, also filed for bankruptcy protection. Genesis Global Holdco and Genesis Asia Pacific each reported assets and liabilities in the range of $100 million and $500 million.

How did Genesis & DCG deal with creditors?

Genesis and DCG on Tuesday reached an in-principle agreement with Genesis' creditors to resolve claims brought during the crypto lender's bankruptcy.