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
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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.