Genesis' attempts to stay afloat fails.
Digital Currency Group subsidiary Genesis has finally filed for Chapter 11 bankruptcy in the Southern District of New York court late Thursday night.
Genesis Global Capital, which happens to be the partner firm to Gemini’s recently-obsolete Earn program, roughly has over 100,000 creditors with liabilities and assets around $1 billion and $10 billion. The filing does not include other subsidiaries of Genesis that engaged in the derivatives, spot trading, and custody businesses.
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