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Genesis Owes Creditors Over $3.5B: Here Are Top 5 Claims

Published 20/01/2023, 08:11
© Reuters.  Genesis Owes Creditors Over $3.5B: Here Are Top 5 Claims

Benzinga - Genesis Global, the crypto lending company that filed for bankruptcy protection in New York late Thursday, owes more than $3.6 billion to its top creditors.

What Happened: Genesis released a list of their top 50 unsecured creditors. We look at the top five unsecured claims, according to the bankruptcy filing.

  • Gemini Trust Company tops the list with a staggering claim of $766 million.
  • Mirana Corp, who is owed $151 million
  • Babel Finance, through an entity called Moonalpha Financial Services Limited, holds a $150 million claim.
  • VanEck New Finance Income Fund is owed $53 million,
  • Plutus Lending, a division of the crypto platform Abra, with a claim of $30 million.
  • Meanwhile, over $700 million dollars has been attached to entities whose identities are unknown.

    Genesis is owned by DCG and was the first to launch OTC Bitcoin (CRYPTO: BTC) trading desk in 2013.

    Price Action: BTC was trading at $20,979 up 0.75% in the last 24 hours, according to Benzinga Pro.

    Read Next: FTX's New CEO Aims To Revive Defunct Cryptocurrency Exchange: What You Need To Know

    © 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    Read the original article on Benzinga

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