Genesis owes $1.8 billion to creditors

FlavienDecember 5, 2022

Less than a minute

Crypto lender Genesis has been in troubled waters ever since the start of the FTX debacle.
Rumored to be on the brink of bankruptcy on different occasions, the company owned by Digital Currency Group reportedly owes more than $1.8 billion to creditors, which includes about $900 million to customers of Gemini’s Earn program, according the Financial Times. As a reminder, Gemini is owned by the Winkelvoss brothers, better known for their involvement in the creation of Facebook.

Stay ahead of the game with our Crypto News.
Boost your knowledge about Crypto with our Crypto Encyclopedia.

FlavienDecember 5, 2022

Less than a minute

Flavien

Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.