Cryptocurrency firm Genesis has been banned from operating in New York and will pay a settlement worth $2 billion, the Office of the New York State Attorney General (NYAG) said in a Monday (May 20) press release. This settlement includes the bankrupt firms Genesis Global Capital, Genesis Asia Pacific and Genesis Global Holdco, according to the...
Genesis has altered its bankruptcy plans, and that doesn’t sit well with the federal government. The crypto lender said in a filing last week that it wants to liquidate its assets instead of reorganizing. And that could delay the bankruptcy process, U.S Trustee William Harrington said...
Cryptocurrency-trading business Genesis has stopped all its trading operations. The company is closing its international spot and derivates trading operation, after shutting down its U.S. desk last week, CoinDesk reported Thursday (Sept. 14). Reached for comment by PYMNTS, a company spokesperson provided an emailed statement: “Genesis has...
The bankruptcies of five major cryptocurrency firms have been a boon for corporate turnaround specialists. That’s according to a report published Tuesday (Sept. 5) by The New York Times, showing that professionals such as attorneys, accountants, consultants and crypto analysts have billed more than $700...
November 22, 2022
FTX continues to be an industry “market maker” from beyond the grave, as the realities of entangled counterparty risk rear their heads throughout the cryptocurrency industry, while stoking fears over which companies might also now be in distress following FTX’s collapse. These budding contagion concerns are also remarkable given that only months ago cryptos were […]
May 20, 2024
Cryptocurrency firm Genesis has been banned from operating in New York and will pay a settlement worth $2 billion, the Office of the New York State Attorney General (NYAG) said in a Monday (May 20) press release. This settlement includes the bankrupt firms Genesis Global Capital, Genesis Asia Pacific and Genesis Global Holdco, according to the release. “This historic settlement is a major step toward ensuring […]
November 02, 2023
Genesis has altered its bankruptcy plans, and that doesn’t sit well with the federal government. The crypto lender said in a filing last week that it wants to liquidate its assets...
September 14, 2023
Cryptocurrency-trading business Genesis has stopped all its trading operations. The company is closing its international spot and derivates trading operation, after shutting down its U.S. desk last week, CoinDesk reported Thursday (Sept....
September 06, 2023
The bankruptcies of five major cryptocurrency firms have been a boon for corporate turnaround specialists. That’s according to a report published Tuesday (Sept. 5) by The New York Times, showing...
