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DCG’s Crypto Lender Genesis May File for Bankruptcy, According to Bloomberg Report

Bloomberg reported that Crypto brokerage firm Genesis Global Capital, which is estimated to owe creditors US$3 billion, may file for bankruptcy as early as this week, citing unnamed people familiar with the situation. Genesis, a subsidiary of Digital Currency Group (DCG), is still in talks with creditors and the bankruptcy filing plans could change, Bloomberg reported. Following the suspension, New York-based Gemini and South Korea’s GOPAX crypto exchanges halted withdrawals in their interest-bearing programs that had Genesis as their trading partner. (forkast)

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