Investing.com - Financial Markets Worldwide

Creditors Take Issue With Genesis’ Sloppy Bankruptcy Filing

Published 01/22/2023, 02:23 AM
Updated 01/22/2023, 02:45 AM
Creditors Take Issue With Genesis’ Sloppy Bankruptcy Filing

  • Two of Genesis’ creditors have taken issue with the crypto lender’s “sloppy” bankruptcy filing.

  • Mirana and Cumberland have accused the crypto lender of including inaccurate and misleading information in the filing.

  • Genesis had shown in its filing that both the firms had a combined exposure of $169 million.

Barely hours after Genesis Global filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York, two of the crypto lender’s top ten creditors have gone public alleging misrepresentation of their exposure to the bankrupt firm.

Within hours of the filing, pictures of the chapter 11 document started circulating on Twitter. The document featured a list of Genesis’ top creditors, including Gemini, Babel, and Decentraland. Among these creditors were Mirana and Cumberland.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.