Skip to content

Bankrupt Genesis Owes Its Top 50 Creditors $3.4 Billion

  • Figure eclipses $3.1 billion owed by FTX to its top creditors
  • Winklevoss twin’s Gemini Earn customers owed $766 million
Bloomberg business news
Crypto Firm Genesis Files for Chapter 11 Bankruptcy

The bankruptcy of Barry Silbert’s Genesis Global may not have pummeled crypto markets like the implosion of Sam Bankman-Fried’s FTX did, but it features a list of top creditors with similarly large claims topping $3 billion in total.

Genesis’s Chapter 11 filing on Thursday listed seven creditors owed at least $100 million. By far the biggest one is a $766 million claim related to customers of crypto exchange Gemini, who have money stuck with Genesis’s lending unit. FTX-linked entities have 10 claims of more than $100 million, according to a redacted list filed Saturday.