Bear Market
Crypto markets hold steady in face of Genesis bankruptcy filing
Crypto markets did not react to news of Genesis filing for Chapter 11 bankruptcy. However, contagion risk remains a threat.
Samuel Wan 2 min read
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Gemini co-founder threatens lawsuit against DCG, Barry Silbert
Cameron Winklevoss argued that Genesis' bankruptcy does not insulate Barry Silbert or DCG from accountability.
Bankruptcy
Genesis owes over $3.5B to top 50 creditors, owes $765.9M to Gemini Earn users
Genesis' bankruptcy filing shows a much lower debt liability to Gemini Earn users than the $900M debt Cameron Winklevoss had claimed.
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Genesis Global caves to liquidity issues, files for Chapter 11 bankruptcy
Genesis' custody, derivatives, broker-dealer, and spot trading business are not part of the bankruptcy proceedings.
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MakerDAO approves 85% Gemini USD holdings in DAI stablecoins
Maker's PSM poll showed 50.85% of participants supporting keeping the GUSD debt ceiling at $500 million, while the rest supported its removal.
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FTX CEO John Ray creates taskforce to explore restarting exchange
CEO John Ray stated that ‘everything is on the table’ and if there is a path forward, FTX will explore it.
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Genesis rumored to be preparing bankruptcy filing as soon as next week
A prepackaged bankruptcy filing is looking increasingly likely as Genesis fails to secure funds
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FTX defends move to appoint law firm Sullivan & Cromwell as advisor
Separate filings from FTX CEO John Ray III and the official Committee of unsecured creditors supported the move to retain Sullivan & Cromwell.
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SBF said it was ‘okay’ that Alameda was borrowing FTX user funds
Before FTX's collapse, SBF was hoping that an increase in crypto prices would solve the problem of Alameda losing FTX user funds.
