Crypto Update | Genesis Files for Bankruptcy Protection, Bitcoin Didn’t Care
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Cryptocurrency Exchange Gemini Files for Chapter 11 Bankruptcy
Genesis Global Capital, the partner firm to Gemini's defunct earned program, estimated more than 100,000 creditors. All three fall under the umbrella of Digital Currency Group, which of course also owns coin desk. Winklevoss called the lenders bankruptcy a crucial step towards recovering Gemini user's assets but said he still intends to sue Silbert and Genesis parent company DCG unless Silbert makes a fair offer to its creditors. The SEC charged crypto lender Nexo with failing to register the offer and sale of its earned interest product, better known as EIP.
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