Genesis Global Holdco, LLC

  1. February 08, 2024

    Gemini's $800M Claim On Genesis Isn't Secured, Judge Says

    A New York bankruptcy judge rejected cryptocurrency exchange Gemini's argument that it has a secured claim on more than $800 million in Genesis Global Capital assets, ruling that because Genesis never transferred the assets, they cannot count as collateral pledged by the debtor.

  2. February 08, 2024

    Genesis Says Parent Crypto Co. Must Pay For $33M 3AC Deal

    Bankrupt cryptocurrency lender Genesis says its parent company, conglomerate Digital Currency Group, should be on the hook for a $33 million settlement to defunct crypto hedge fund Three Arrows Capital.

  3. February 06, 2024

    DCG Slams Genesis Ch. 11 Plan As Favoring Some Creditors

    Crypto conglomerate Digital Currency Group has told a New York bankruptcy judge that the Chapter 11 plan of its lender subsidiary Genesis Global Holdco shouldn't move forward because it overpays certain creditor classes, favoring them over equity holders like DCG.

  4. February 01, 2024

    Genesis Strikes $21M Deal In SEC Crypto Enforcement Action

    Bankrupt cryptocurrency company Genesis Global asked a New York judge to approve a settlement it has reached with the U.S. Securities and Exchange Commission that would end the agency's enforcement action by granting it a subordinated claim for a $21 million civil penalty.

  5. January 30, 2024

    US Trustee Opposes 'Backdoor' Releases In Genesis Ch. 11

    The U.S. Trustee's Office is challenging cryptocurrency company Genesis Global's Chapter 11 plan, arguing it would improperly pay certain legal fees without court approval, include overbroad releases and allow for an "impermissible backdoor third-party release."

  6. January 18, 2024

    Genesis Says Gemini's $800M Collateral Claim Not Secured

    Bankrupt cryptocurrency investment platform Genesis Global Capital asked a New York bankruptcy judge Thursday to reject arguments from rival Gemini Trust Co. that it has a secured claim on $800 million in assets that Genesis pledged as loan collateral.

  7. November 30, 2023

    Genesis Gets OK To Resolve $1B In Three Arrows Claims

    A New York bankruptcy judge Thursday approved bankrupt cryptocurrency lending platform Genesis Global Holdco LLC's $33 million settlement resolving $1 billion in claims by bankrupt crypto hedge fund Three Arrows Capital.

  8. November 28, 2023

    Genesis Nears Deals With Parent Co., Creditors

    A New York bankruptcy judge on Tuesday gave Genesis Global Holdco permission to send its Chapter 11 plan out for a vote, as the cryptocurrency lending platform reported impending agreements with its parent company and creditors that could render its "no deal" bankruptcy plan a misnomer.

  9. November 22, 2023

    Genesis Seeks $689M Clawback From Ex-Crypto Partner

    Cryptocurrency lending platform Genesis wants to recoup more than half a billion dollars it says its former investment program partner distributed in the months before it filed for Chapter 11, the company told a New York bankruptcy court.

  10. November 13, 2023

    Genesis Hits $33M Deal On Three Arrows $1B Ch. 11 Claim

    Bankrupt cryptocurrency lending platform Genesis Global Holdco said in recent court filings that it has reached a deal with Three Arrows Capital Ltd. that resolves more than $1 billion in claims against the Genesis Chapter 11 estate with a $33 million settlement deal.