A former Genesis employee sent a message to a prospective investor in December, pitching a new crypto hedge fund.
, three former employees of the company had secured millions of dollars for a new crypto hedge fund, according to correspondence viewed by CNBC.
Ballensweig was named in legal filings surrounding the implosion of Genesis' lending book. Gemini, a crypto exchange and major Genesis client, accused Ballensweig of falsely reassuring Gemini in July that Genesis was financially stable. Gemini claimed that Ballensweig told its representatives that Genesis had "capital to operate... for the long term," according to court filings.
Ballensweig spent his final nine months at Genesis as managing director and co-head of trading and lending.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Genesis’ bankruptcy filing was decided by independent committee, according to DCGA special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection, according to DCG.
Read more »
Crisis at DCG: Genesis Could File for Bankruptcy This Week, as CoinDesk Explores Sale | CoinMarketCapNot only was Genesis badly burned by the demise of Three Arrows Capital, but it has now been frozen out of $175 million after FTX collapsed too.
Read more »
Alameda Research, Genesis' multi-billion dollar relationship: reportAlameda Research and Genesis' multi-billion dollar relationship reportedly began years ago with Sam Bankman-Fried asleep in a beanbag chair at their first meeting
Read more »
Crypto lender Genesis files for bankruptcy in latest blow to Barry Silbert's DCG empireGenesis, the crypto lender owned by DCG, filed for bankruptcy protection, the latest collapse to follow FTX's implosion in November.
Read more »
Genesis' Crypto Lending Businesses Files for Bankruptcy ProtectionThe collapse of FTX in late 2022 was the final straw for Genesis, which earlier that year reportedly suffered losses of several hundred million dollars due to its exposure to failed crypto hedge fund Three Arrows Capital.
Read more »