Genesis Global Capital Files for Bankruptcy Protection

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The parent company of troubled crypto lender Genesis Global Capital has filed for bankruptcy protection in a New York federal district court.

Genesis Global Holdco, LLC estimates it holds between $100 million and $500 million in assets and has the same amount in liabilities. It also has between 1 and 49 creditors.

Subsidiaries Genesis Global Capital, LLC and Genesis Asia Pacific Pte. Ltd have also filed for bankruptcy protection.

Other subsidiaries of Genesis involved in derivatives, spot trading, custody, and Genesis Global Trading are not included in bankruptcy filing and continue operations.