After suspending redemptions for its customers last November and battling Gemini cofounders Cameron and Tyler Winklevoss since then, Barry Silberts Genesis Global Capital filed for bankruptcy on Thursday.
Genesis, itself a subsidiary of billionaire Barry Silberts Digital Currency Group that connects institutional investors to digital asset markets, said in the filing that it owes creditors at least $3.4 billion, according to Reuters.
The company had assets and liabilities worth between $1 billion and $10 billion and more than 100,000 creditors.
The companys spot trading and derivatives subsidiary as well as Genesis Global Trading, the companys digital asset brokerage, did not file for bankruptcy and continues operating, according to the…
Read the full article at: https://fortune.com/crypto/2023/01/19/genesis-considers-bankruptcy-gemini-barry-silbert-winklevoss-twins/