- Crypto broker Genesis is preparing to file for bankruptcy as soon as this week.
- Genesis owes creditors more than $3bn, including $900mn to customers of Gemini and €280mn to Dutch exchange Bitvavo.
- A pre-packaged bankruptcy deal for Genesis is being negotiated with creditors and would include cash and equity in DCG.
- CoinDesk has been privately seeking a sale of all or part of the company.
- US Securities and Exchange Commission sued Genesis and Gemini over the “Earn” crypto lending programme.
Crypto broker Genesis prepares to file for bankruptcy as soon as this week | Financial Times
Firm could become the latest casualty from turmoil in the digital asset sector following FTX’s collapse
Nikou Asgari
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