Genesis Owes Over $3.5B to Top 50 Creditors

Crypto exchange Gemini, Trading giant Cumberland, Mirana, MoonAlpha Finance and VanEck’s New Finance Income Fund are among the fifty largest Genesis creditors, according to a bankruptcy filing published on late Thursday night.during the late U.S. hours of Thursday in what it called a “strategic [action] to achieve a global resolution to maximize value for all clients and stakeholders and strengthen its business for the future.

$766 million; trading firm Cumberland DRW $18.7 million; Crypto-fund Mirana $151.5 million; MoonAlpha Finance is owed $150 million, and VanEck’s New Finance Income Fund $53 million. There are also a number of creditors that have been redacted. An unknown creditor is owed $462.2 million and another is owed $230 million.A company called Heliva International Corp is owed $55 million, and lists

as a contact point. However, when contacted by CoinDesk, Ryan De Taboada, Decentraland’s COO, denied that this was an official investment from Decentraland.

Source: News Formal (newsformal.com)

Gemini CumberlandSays thesamreynolds the 3.5b be like

Gemini CumberlandSays thesamreynolds Wow! That's a lot. It just shows how important it is to keep track of who your creditors are and manage debt wisely - especially when dealing with such large amounts.

Gemini CumberlandSays thesamreynolds

Gemini CumberlandSays thesamreynolds Wasn't crypto supposed to be trustless and verifiable? Shouldn't this also apply to the assets and liabilities that back the currency?

Gemini CumberlandSays thesamreynolds Next will be Gemini.

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