# Genesis Trading

ALL From Genesis Trading

Another Crypto Collapse Just Occurred

Genesis trading has been revealed to have $5 billion in liabilities. That’s almost as much as FTX, and we all know how big that was.

Genesis Claims $5.1B in Liabilities in First Day Bankruptcy Filing

Bankrupt crypto lending firm Genesis held $5.1 billion in liabilities in the weeks following its freeze on withdrawals last November, according to court documents signed by interim CEO Derar Islim.

Genesis Cuts 30% of Staff in Latest Round of Layoffs

Genesis Trading begun a new round round of layoffs, reducing its workforce by 30%, a source familiar with the matter told The Block. 

Grayscale Holds 3.28% of BTC’s Supply and 2.54% of ETH as Bankruptcy Looms for Genesis, DCG

Grayscale Investments now holds an estimated 3.28% of Bitcoin’s total supply and 2.54% of Ethereum at a time when its parent company DCG, has a $1.1 billion financial hole.

Ex-Genesis, Galaxy Execs Said to Helm Hedge Fund Hunting Hill’s Crypto Play

Longtime TradFi hedge fund operator Hunting Hill Global Capital tapped Martin Garcia, who spent more than half a dozen years at Genesis, as chief investment officer for its emerging crypto-only affiliate, Hunting Hill Digital, sources said. Garcia, in charge of the unit’s hiring, is evidently looking to use that job market to his advantage. 

Will Genesis Go Bankrupt? A Review of the Genesis/DCG Incident

The collapse of FTX triggered an avalanche in crypto. Genesis and Digital Currency Group (DCG) are the most notable names among those affected.

White Man Always Be in Charge – Little Games Barry Silbert Playing With DCG, Grayscale, and Genesis

Barry Silbert, the man atop this shaky DCG / Genesis / GBTC empire, shows how stereotypes hinder investors’ ability to properly manage risk.

Crypto ATM Operator Coin Cloud Discussed Equity From Genesis

Coin Cloud, which operates automated teller machines that sell crypto currencies, had been seeking additional capital from Genesis, a digital asset brokerage, but it’s unclear if discussions are continuing as its rescuer itself struggles to raise cash.

Digital Currency Group CEO Downplays FTX Impact on Genesis, Expects $800M Revenue in 2022

Digital Currency Group (DCG) CEO Barry Silbert sent shareholders a memo on Nov. 22 addressing the situation surrounding Genesis’ liquidity. Silbert said the suspension of withdrawals at Genesis’ lending arm Genesis Global Capital was an “issue of liquidity and duration mismatch in the Genesis loan book”. The CEO noted that these issues have “no impact” on Genesis’ spot and derivatives trading or custody businesses. Genesis has hired financial and legal advisers to look at “all possible options amidst the fallout from the implosion of FTX”.

Coinbase: We Have Zero Exposure to Genesis Trading

Coinbase said on Twitter that they have zero exposure to Genesis Trading.