Genesis Capital reportedly preps bankruptcy filing
Barry Silbert, CEO of Digital Currency Group Inc., during The Economist's Finance Disrupted conference in New York, U.S., on Thursday, Oct. 13, 2016. Photo: Michael Nagle/Getty Images
Genesis Global Capital, the crypto lending company that shut off withdrawals in November, may be very close to filing bankruptcy, The Block and: With recession fears swirling, crypto's winter has lingered, and continues to take down high-profile companies. Genesis, one of the digital asset market's marquee names, has been the, Genesis has been negotiating a prepackaged deal with its creditors in order to go into a bankruptcy process that resolves more quickly.
Genesis's trading operation is also now under scrutiny by the Securities and Exchange Commission , who, the conglomerate of crypto firms led by Barry Silbert. Gemini, a business partner in the venture now under scrutiny by the SEC, has accused Genesis of failing toFlashback:
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