Troubled crypto trading and lending firm Genesis owes its creditors at least $1.8 billion, CoinDesk געמאלדן זונטאג.
די פינאַנסיאַל טיימס ערשטער געמאלדן on Saturday that Genesis owes customers of Gemini’s Earn program $900 million. In addition to that, Genesis owes another $900 million to a group of assorted creditors, which law firm Proskauer Rose is representing, according to the CoinDesk report, which cited an anonymous source.
In addition to the Proskauer group, there is another ad hoc group of Genesis creditors being represented by law firm Kirkland & Ellis, CoinDesk reported. The amount owed to this group is unknown. Bloomberg געמאלדן last week that Proskauer Rose and Kirkland & Ellis are representing groups of Genesis creditors.
Law firm Latham & Watkins is representing the Gemini customers group, according to CoinDesk.
אָנהייב כאָלטיד client withdrawals last month after taking large hits from FTX and earlier from Three Arrows Capital. The firm has been trying to raise funds and has hired investment bank Moelis & Company to explore its options, which include a potential bankruptcy.
U.S. state securities regulators are ריפּאָרטאַדלי investigating Genesis. Alabama is said to be one of the states that is looking into whether Genesis “enticed residents to invest in crypto-related securities without making the proper registrations,” according to Barron’s.
© 2022 די בלאַק קריפּטאָ, ינק. כל הזכויות שמורות. דער אַרטיקל איז צוגעשטעלט בלויז פֿאַר ינפאָרמיישאַנאַל צוועקן. עס איז ניט געפֿינט אָדער בדעה צו זיין געוויינט ווי לעגאַל, שטייער, ינוועסמאַנט, פינאַנציעל אָדער אנדערע עצה.
Source: https://www.theblock.co/post/192041/troubled-crypto-lender-genesis-owes-creditors-at-least-1-8-billion-coindesk?utm_source=rss&utm_medium=rss