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Crypto lender Genesis owes creditors $3bn - FT
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finextra.comGenesis parent Digital Currency Group (DCG) is considering selling some of the assets in its venture portfolio to raise money to help pay off the creditors, says the FT, citing sources. Earlier this month, Genesis laid off about 30% of its workforce as it faced up to the FTX fallout, which had already forced to it to stop customer withdrawals.
DCG, which has a venture capital portfolio worth around $500 million, has struggled to find outside investment, according to the FT. Genesis creditors have been raising concerns about the issue, with one - Gemini co-founder Cameron Winklevoss - this week calling for the removal of DCG CEO Barry Silbert.
. Read more on finextra.comAbout this in other media
Cryptocurrency Exchange Gemini to Lay Off 10% of Workforce – Here’s What Happened cryptonews.com /1 year ago
Genesis creditors file securities lawsuit against Barry Silbert and DCG cointelegraph.com /1 year ago
Crypto lender Genesis files for bankruptcy fnlondon.com /1 year ago
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