What Genesis’s Personal bankruptcy Means for the Business
Crypto loan company Genesis has submitted for bankruptcy. For lots of observers in crypto, this wasn’t fully unforeseen, not least because the business itself had been warning that it was staring down a liquidity crisis and seeking to raise revenue.
About the past few of months, Barry Silbert, who is the CEO of the Genesis parent corporation identified as Digital Forex Team, has been in a pretty public and type of progressively unpleasant online dispute with some fellow billionaires, the co-founders of the Gemini Crypto Trade, Tyler and Cameron Winklevoss. At the heart of this dispute is all around $900 million worth of funds that buyers of these two entities have misplaced accessibility to.
Bloomberg editor Anna Irrera and reporter Emily Nicolle sign up for the show to talk about what Genesis was, why it was so crucial to the crypto ecosystem and what its romance is with Gemini.
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Jan 26, 2023