Bankrupt Crypto Lender Genesis Owes Over $3,800,000,000 to Firm’s Largest 50 Creditors

Bankrupt Crypto Lender Genesis Owes Over $3,800,000,000 to Firm’s Largest 50 Creditors


New documents reveal that embattled crypto lender Genesis owes billions of dollars to its 50 largest creditors.

In recent voluntary bankruptcy filings, the crypto firm divulges that it owes $3.8 billion to its largest creditors, which include hedge fund manager VanEck and the Stellar Development Foundation, the developers of XRP rival Stellar (XLM).

Other prominent creditors include crypto investment firm Digital Finance Group, crypto exchange platform Coinhouse, and crypto lender Gemini. Previously, Genesis and Gemini had collaborated to create Gemini’s Earn program, which allowed retail investors to loan out their digital assets to earn interest.

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Genesis owes about $765 million to members of Gemini’s Earn program, the highest single amount it owes, according to the documents.

Genesis, a subsidiary of Barry Silbert’s Digital Currency Group,

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