Digital Currency Group, the parent company of both Genesis and Grayscale, released a statement on Jan. 20 commenting on the news that Genesis had filed for Chapter 11 bankruptcy.

Gemini Founder said Genesis’ bankruptcy declaration does not insulate DCG and Barry Silbert from facing legal actions, should they fail to offer reasonable solutions to repaying creditors.

Genesis Global Holdco LLC, a digital asset lender made it to the list of firms filing for bankruptcy after the horrible collapse of the FTX crypto exchange. The FTX contagion has now taken over the numerous crypto projects which have exposure to Genesis.

Genesis Global, which filed for bankruptcy protection in New York late Thursday, owes more than $3.6 billion to its top creditors.

Gemini CEO Cameron Winklevoss threatened to sue Digital Currency Group CEO Barry Silbert over the repayment of a $900 million loan in a tweet published just minutes after the crypto lender’s Chapter 11 filed for Chapter 11 bankruptcy late Thursday night.The tweet comes after Winklevoss waged a Twitter war against DCG to recover the loan amid his exchange’s own struggles.

Cryptocurrency exchange Luno's co-founder and chief technology officer (CTO) Timothy Stranex exited in December to "pursue personal projects," the firm has said.

SSV DAO, the decentralized autonomous organization behind the decentralized staking protocol SSV.network, is starting a $50 million ecosystem fund to help mature Distributed Validator Technology (DVT) infrastructure.

Timothy Stranex, the founder and chief technology officer of the crypto exchange Luno, quietly left the firm in December to pursue "personal projects" after ten years at the company. 

Bloomberg reported that Crypto brokerage firm Genesis Global Capital, which is estimated to owe creditors US$3 billion, may file for bankruptcy as early as this week, citing unnamed people familiar with the situation. Genesis, a subsidiary of Digital Currency Group (DCG), is still in talks with creditors and the bankruptcy filing plans could change, Bloomberg reported. Following the suspension, New York-based Gemini and South Korea’s GOPAX crypto exchanges halted withdrawals in their interest-bearing programs that had Genesis as their trading partner. (forkast)

Troubled crypto lending platform – Genesis Global – has started to move towards filing for bankruptcy, according to a report by Bloomberg. The platform could file for bankruptcy as soon as this week. The platform has been on the brink of bankruptcy since November 2022, with the platform trying to raise nearly a billion in funds.