Genesis Owes Creditors Over $3.5B: Here Are Top 5 Claims

Genesis Owes Creditors Over $3.5B: Here Are Top 5 Claims

Genesis Global, the crypto lending company that filed for bankruptcy protection in New York late Thursday, owes more than $3.6 billion to its top creditors. 

What Happened: Genesis released a list of their top 50 unsecured creditors. We look at the top five unsecured claims, according to the bankruptcy filing.

  1. Gemini Trust Company tops the list with a staggering claim of $766 million.
  2. Mirana Corp, who is owed $151 million
  3. Babel Finance, through an entity called Moonalpha Financial Services Limited, holds a $150 million claim. 
  4. VanEck New Finance Income Fund is owed $53 million, 
  5. Plutus Lending, a division of the crypto platform Abra, with a claim of $30 million. 

Meanwhile, over $700 million dollars has been attached to entities whose identities are unknown.

Genesis is owned by DCG and was the first to launch OTC Bitcoin BTC/USD trading desk in 2013.

Price Action: BTC was trading at $20,979 up 0.75% in the last 24 hours, according to Benzinga Pro.

Read Next: FTX's New CEO Aims To Revive Defunct Cryptocurrency Exchange: What You Need To Know


Posted In: CryptocurrencyNewsMarketsGeminiGenesisGenesis Bankruptcy

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