Genesis Gets Nod To Sell $1.6B In Grayscale Shares In Ch. 11

By Alex Wittenberg · February 14, 2024, 2:28 PM EST

Cryptocurrency lender Genesis Global won a New York bankruptcy judge's approval Wednesday to start selling more than $1.6 billion of shares in Grayscale Investments trusts to fund payouts to creditors, defeating...

To view the full article, register now.

Bankruptcy Scorecard

Summary

Cryptocurrency lending platform Genesis Global Holdco LLC filed for Chapter 11 bankruptcy in January 2023 with $5.1 billion, after huge players in the digital asset space fell into Chapter 11, including exchange FTX Trading Ltd. and lending platform Celsius Networks.

Case Number

23-bk-10063

Judge

Sean H. Lane

Venue

U.S. Bankruptcy Court for the Southern District of New York

Capital Structure

Total Liabilities:

$5.1 billion

View Full Scorecard

Case Information

Case Title

Genesis Global Holdco, LLC

Case Number

1:23-bk-10063

Court

New York Southern

Nature of Suit

Date Filed

January 19, 2023