News > DCG’s crypto lending subsidiary Genesis files for bankruptcy protection in New York

DCG’s crypto lending subsidiary Genesis files for bankruptcy protection in New York

20/01/2023 02:38 PM | Click to read full article

Crypto lender Genesis filed for Chapter 11 bankruptcy protection in Manhattan federal court late Thursday night, after suffering crippling losses from the collapses of FTX and hedge fund Three Arrows Capital. The New York-based firm had provided crypto loans to Three Arrows Capital (3AC) and Alameda Research, the hedge fund founded by Sam Bankman-Fried and closely associated with his FTX exchange. Genesis is a part of Barry Silbert’s Digital Currency Group.

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