US Crypto lending firm Genesis files for Chapter 11 bankruptcy protection ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 20
Crypto lending company Genesis is seeking Chapter 11 bankruptcy protection as faltering prices and the downfall of FTX continue to rattle the industry. Genesis Global Holdco LLC and two of its lending business subsidiaries, Genesis Global Capital LLC and Genesis Asia Pacific Pte. Ltd., filed for bankruptcy protection in the Southern District of New York. Genesis said that its other subsidiaries involved in the derivatives and spot trading and custody businesses and Genesis Global Trading are not included in the filing and continue client trading operations. Genesis said that it has more than $150 million in cash on hand, providing ample liquidity to support its ongoing business operations an

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