What happened to Genesis cryptocurrencies?

Genesis is part of the Digital Currency Group (DCG), which also owns cryptocurrency asset manager Greyscale and crypto-focused news outlet CoinDesk. The bankruptcy follows months of uncertainty at the crypto firm.

Does Digital Currency Group owe Genesis money?

Aside from the money owed to Genesis, Digital Currency Group's only debt is a $350 million credit facility from "a small group of lenders" led by investment firm Eldridge, as well as a $1.2 billion claim it filed in July against bankrupt crypto hedge fund Three Arrows Capital. Digital Currency Group (DCG) had assumed that liability from Genesis.

Does Genesis trading owe Binance or Apollo Global Management?

Genesis is seeking to raise as much as $1 billion, and has approached crypto exchange Binance and asset manager Apollo Global Management for assistance, the Wall Street Journal reported on Monday. (This story has been corrected to say that Digital Currency Group owes Genesis Trading's crypto lending arm, not the other way around, in paragraph 1)

Why did Genesis trading file for bankruptcy?

Genesis Trading filed for bankruptcy protection after suffering crippling losses from the collapses of FTX and hedge fund Three Arrows Capital. Genesis is a part of Barry Silbert’s Digital Currency Group, which has seen mounting problems in recent months.