Loading ...Bankrupt Crypto Lender Genesis Owes Over $3,800,000,000 to Firm’s Largest 50 Creditors
In recent voluntary bankruptcy filings, the crypto firm divulges that it owes $3.8 billion to its largest creditors, which include hedge fund manager VanEck and the Stellar Development Foundation, the developers of XRP rival Stellar (XLM).
Other prominent creditors include crypto investment firm Digital Finance Group, crypto exchange platform Coinhouse, and crypto lender Gemini. Previously, Genesis and Gemini had collaborated to create Gemini’s Earn program, which allowed retail investors to loan out their digital assets to earn interest.
Genesis owes about $765 million to members of Gemini’s Earn program, the highest single amount it owes, according to the documents.
ARE TPTB ORCHESTRATING THE BANKRUPTCY OF ALL THINGS CRYPTO IMMEDIATELY PRIOR TO INTRODUCTION OF CBDC’s?
Better get out of GDX and GDXJ then as those (VanEck) funds could get a GLITCH and ‘suddenly’ valued ZERO.
Possible even check which stocks GDX(J) has in funds and possibly even get of of those stocks as who knows what, VanEck get a Margin call and forced to sell individual mining stocks.
Seems like a STORM is brewing.