FTX Collapse Claims Big Victim: Genesis Goes Bankrupt

Published by
The Street

By Luc Olinga The crypto lender, a subsidiary of billionaire Barry Silbert’s crypto empire, has filed for bankruptcy after weeks of speculation. Another renowned crypto firm is down. The fall of Sam Bankman-Fried’s crypto empire continues to wreak havoc on the cryptocurrency industry. Crypto lender Genesis Global Holdco LLC filed for bankruptcy on January 19, victim of its business dealings with the FTX cryptocurrency exchange. FTX and its sister company Alameda Research, a hedge fund and trading platform, were the flagships of Bankman-Fried’s empire, which collapsed overnight on November 11 a…

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