Genesis files for chapter 11 bankruptcy as Winklevii threaten DCG lawsuit
Genesis Global has voluntarily filed for bankruptcy, along with its crypto lending arm, as parent firm DCG faces rising financial distress.
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Fraud, crime, and the Winklevii force DCG to freeze dividend payouts
According to CEO Barry Silbert, DCG’s problems are due to a wave of “unprecedented fraud and criminal behavior” in the crypto industry.
Scoop: Larry Summers gives up advisory role at crypto firm DCG amid criticism
Harvard professor Larry Summers has wiped all mention of his advisory role at DCG following backlash for comments he made about FTX.
Chelsea FC owner first in line for $350M payout if Genesis goes under
If Genesis fails, $350 million of the $600 million owed to Todd Boehly’s Eldridge would become due, according to the terms of the loan.
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