Who owns Genesis cryptocurrency?

Genesis is owned by Stamford, Connecticut-based venture capital company Digital Currency Group. The contagion concerns stem from Genesis' prominence in crypto, its links to troubled firms and broader reach into the financial world.

What happened to Genesis crypto?

Cryptocurrency lender Genesis has filed for bankruptcy. The firm had recently been charged by US regulators Securities and Exchange Commission (SEC) with illegally selling crypto. It is part of the Digital Currency Group (DCG), a conglomerate of more than 200 crypto-focused businesses.

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)