SAN FRANCISCO, CALIFORNIA: Well-known Crypto brokerage Genesis has filed for bankruptcy, according to sources inside the industry. Following the catastrophic collapse of Sam Bankman Fried’s FTX, where the lender stored some of its cash, the filing took its route through the US bankruptcy court on Thursday, and is the newest crypto victim. A contract with the nearly 100,000 creditors who are owed money as a result of FTX‘s demise is being negotiated by the firm, according to earlier reports this week. The company had been reportedly in the middle of the now-completed Chapter 11 paperwork.
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