The creditor list of Genesis, a crypto investment firm affiliated with Digital Currency Group (DCG), continues to rise. According to current information, the debt to be paid has reached 1.8 billion dollars.
After suspending withdrawals in mid-November, Genesis’s creditor list continues to swell. Financial Times (FT) In a recent report by Genesis, customers of the “Earn” program of cryptocurrency exchange Gemini 900 million dollars in debt was specified.
According to Coindesk’s December 5 report, Genesis has a second creditor in addition to this debt, according to a source. $900 million to the group It was alleged that he owed more. In line with this data, the total debt that Genesis has to pay to its creditors $1.8 billion reached. It is said that these debts may continue to increase, according to the testimony of people familiar with the matter.
While no further details were given about the second group of creditors that emerged, 900 million dollars the second group of people who are more demanding Proskauer Rose It has been learned that the law firm will represent.
On the other hand, sources, bankrupt crypto money companies Celsius Network and Voyager digital law firm representing Kirkland & Ellis He claimed that more debt would be claimed by a third group of creditors he represented. The loan amount of this third group is not known yet.
Denying the first allegations that emerged, Genesis was not in a hurry to file for bankruptcy. in the early days 1 billion dollars recovery fund 500 million dollars Announcing that they have downloaded the company, it seems that it may need more.
Genesis has recently been working on raising funds, analyzing all situations and being able to offer assets back to clients. Moelis & Company had agreed with.