By Staff Reporters
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The bankruptcy of Barry Silbert’s Genesis Global may not have pummeled crypto markets like the implosion of Sam Bankman-Fried’s FTX did, but it features a list of top creditors with similarly large claims topping $3 billion in total.
According to Bloomberg, Genesis’s Chapter 11 filing on Thursday listed seven creditors owed at least $100 million. By far the biggest one is a $766 million claim related to customers of crypto exchange Gemini, who have money stuck with Genesis’s lending unit. FTX-linked entities have 10 claims of more than $100 million, according to a redacted list filed Saturday.
In all, Genesis owes its top 50 creditors $3.4 billion; for FTX, that figure stands at $3.1 billion. While some of the names of Genesis’ biggest creditors have been redacted in the filing, below is a list of major names.
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Filed under: Alternative Investments, Breaking News, Funding Basics, Investing | Tagged: bankrupt, BANKRUPT: Genesis Global Chapter 11, Barry Silbert, Chapter 11, crypto, cryptocurrency, FTX, Genesis, Genesis 11, Genesis Global | Leave a comment »