Genesis Global Capital, the institutional crypto brokerage whose lending unit halted customer withdrawals in the aftermath of FTX's failure, is laying the groundwork for a bankruptcy filing, according to reports.
Bloomberg reported Genesis as in confidential negotiations with various creditor groups, with the company warnings it could seek bankruptcy protection if it fails to raise capital.Genesis as in talks with creditors about a prepackaged bankruptcy plan, which would mean the two sides coming to a restructuring agreement prior to any filing, and that deal then being made final in bankruptcy court.
Since the collapse and bankruptcy of crypto exchange FTX in November, Genesis had been scrambling to raise fresh capital or reach a deal with creditors. The company's institutional lending unit had been
NelWang Ain't Genesis your sister company? You''re so doomed
NelWang TheJusticeDept look over here.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX reports $415 mln in hacked crypto, Bankman-Fried says FTX US is solventBankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrency had been stolen in hacks. Inside job. Liar.
Source: Reuters - 🏆 2. / 97 Read more »
FTX: it took 'Herculean investigative effort' to identify $5.5B in liquid assetsFTX debtors reported they had identified $5.5 billion in liquid assets but said there was a “substantial shortfall of digital assets” at FTX.com and FTX US. Wow this guy was not a ponzi, but he was a genius just like ponzi was. You will surly not understand all the moves he made with all the fortunes he accumulated, but im sure the goal was to manage the best he can the money of investors,but today in crypto you become a regulator target MISSED CRO ? DONT MISS BABYCRO 💎ENJOY PASSIVE INCOME! 6% HOLDER REWARDS 💎LOCKED LIQUIDITY 💎SAFE/BASED DEV 💎COMMUNITY GIVEAWAYS 📊 Tokenomics are: 💹6% Holder Rewards 📊1% Liquidity 💼3% Marketing Twitter: BabyCroOfficial 🚀👶🏻👶🏻👶🏻👶🏻
Source: Cointelegraph - 🏆 562. / 51 Read more »
2023 Genesis GV70: Car and Driver 10Best Trucks and SUVs2023 GenesisUSA GV70: Car and Driver 10Best Trucks and SUVs:
Source: CARandDRIVER - 🏆 576. / 51 Read more »
SEC charges over Gemini, Genesis Earn program latest shot at crypto lendingThe SEC's enforcement action against Gemini and Genesis over the Gemini lending program is another warning shot to others in the space that are offering yield-bearing products. ForTheWynn_ Your article: 'The Block: SEC charges over Gemini, Genesis Earn program latest shot at crypto lending' is being featured on the Check it out crypto TheBlock
Source: TheBlock__ - 🏆 464. / 53 Read more »
2024 Genesis GV80 Coupe SUV Spied For The First Time | CarscoopsThe successful SUV will be a competitor for the likes of the BMW X6 and the Mercedes GLE Coupe
Source: Carscoop - 🏆 306. / 63 Read more »
Crypto Conglomerate DCG Suspends Dividends Amid Distress at Genesis Unit'In response to the current market environment, DCG has been focused on strengthening our balance sheet by reducing operating expenses and preserving liquidity,' it told shareholders in a letter Tuesday. DCGco IanAllison123 coindesk employees must be anxious about the gravy train coming to an end DCGco IanAllison123 All I see is the 'Are We The Baddies?' meme except they're pyramid-scheme vitamin sellers instead of Nazi shock troops. That's all crypto ever was, boys, Amway for dudes who think fedoras are cool. MarcHochstein DCGco IanAllison123 Shouldn’t this have happened in July?
Source: CoinDesk - 🏆 291. / 63 Read more »