Genesis over $3.5 billion (about 450 billion yen) debt to top 50 creditors | coindesk JAPAN | Coindesk Japan

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Cryptocurrency exchange Gemini, trading giants Cumberland, Mirana, MoonAlpha Finance and VanEck’s New Finance Income Fund are major creditors of Genesis, according to bankruptcy filings released late at night on Jan. 19. .

Genesys filed for bankruptcy at midnight today as “a strategic action to implement global solutions to maximize value for all clients and stakeholders and strengthen the business for the future.” went.

The major creditors listed in the application are names familiar to those involved in crypto assets. Genesis owes $766 million to Gemini Trust Company (which Gemini used Genesis’ services for investment services), $18.7 million to Cumberland DRW, and Mirana, a crypto fund (which invested in Bybit). $151.5 million to MoonAlpha Finance (the Babel Finance team) and $53 million to VanEck’s New Finance Income Fund.

There are also many unnamed creditors. One creditor has $462.2 million and another has $230 million.

Heliva International Corp has $55 million in debt and is being contacted by Santiago Esponda, CFO of metaverse giant Decentraland. However, Decentraland COO Ryan De Taboada told CoinDesk that this is not an official investment from Decentraland.

|Translation: coindesk JAPAN
|Editing: Takayuki Masuda
| Image: Genesis’ booth at the FTX conference in the Bahamas (Danny Nelson/CoinDesk)
|Original: Genesis Owes Over $3.5B to Top 50 Creditors

The post Genesis over $3.5 billion (about 450 billion yen) debt to top 50 creditors | coindesk JAPAN | Coindesk Japan appeared first on Our Bitcoin News.

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