{"id":169783,"date":"2023-01-18T19:27:26","date_gmt":"2023-01-18T19:27:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=169783"},"modified":"2023-01-18T19:27:26","modified_gmt":"2023-01-18T19:27:26","slug":"genesis-is-planning-to-file-for-bankruptcy-report","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/genesis-is-planning-to-file-for-bankruptcy-report\/","title":{"rendered":"Genesis is planning to file for bankruptcy: Report"},"content":{"rendered":"

Cryptocurrency lending firm Genesis Global Capital, a subsidiary of crypto conglomerate Digital Currency Group, is reportedly preparing to file for bankruptcy as early as this week.<\/p>\n

According to a Jan. 18 Bloomberg report, Genesis previously said it was considering a bankruptcy filing if it were unable to raise cash amid a liquidity crunch \u2014 a situation similar to that preceding crypto exchange FTX\u2019s Chapter 11 filing in November. Citing people with knowledge of the situation, Bloomberg reported Genesis could file for bankruptcy as soon as this week.<\/p>\n

The report followed the United States Securities and Exchange Commission announcing on Jan. 12 that it had charged Genesis and crypto exchange Gemini with offering unregistered securities through Gemini’s \u201cEarn\u201d program. The firm also reported it had roughly $175 million worth of funds on FTX prior to the exchange’s bankruptcy in November.<\/p>\n

This story is developing and will be updated.<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency lending firm Genesis Global Capital, a<\/p>\n","protected":false},"author":3,"featured_media":169782,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nGenesis is planning to file for bankruptcy: Report - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/genesis-is-planning-to-file-for-bankruptcy-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genesis is planning to file for bankruptcy: Report - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency lending firm Genesis Global Capital, a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/genesis-is-planning-to-file-for-bankruptcy-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-18T19:27:26+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/01\/Genesis-is-planning-to-file-for-bankruptcy-Report.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/genesis-is-planning-to-file-for-bankruptcy-report\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/genesis-is-planning-to-file-for-bankruptcy-report\/\",\"name\":\"Genesis is planning to file for bankruptcy: Report - 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