Genesis could register bankruptcy this week: report

Genesis could register bankruptcy this week: report

Genesis Global Capital is preparing to finally register bankruptcy after the collapse of FTX has torn a hole into the company's finances.

The bankruptcy application could still be made this week.

• Pro A Test report On Wednesday, the discussions about the bankruptcy still continue, and the plans could change.
• Shortly after the collapse of FTX was genesis specified if it does not have to register if it does not receive any new means. Its derivative business lost $ 175 million within the no longer existing stock exchange, whereupon the company piled up withdrawal.
• Since then Genesis has not been able to find a solution that would make this possible withdraw . This has caused users of the Winklevoss-owned Gemini Earn have no access to their assets because the service has continued user funds on Genesis.
• Cameron Winklevoss since then has accused Genesis, Digital Currency Group (DCG; parent company of Genesis) and DCG CEO Barry Silbert because they have incorrectly presented their financial health towards Gemini through misleading annual financial statements. As a consequence, he called for the immediate dismissal of Barry Silbert as CEO.
• Early this week, DCG announced that it would set the quarterly dividend payments to the creditors.
• The company is now Explore A complete or partial sale of Coindesk-his crypto media-with advisors from Lazard Group, according to the Wall Street Journal.

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