Bitcoin24h $107,885.75-3.66%

Ethereum24h $3,817.98-4.35%

BNB24h $1,067.79-2.27%

XRP24h $2.38-4.17%

Solana24h $181.83-6.55%

TRON24h $0.3200-1.25%

Dogecoin24h $0.1911-4.97%

Cardano24h $0.6297-5.97%

Hyperliquid24h $35.90-3.32%

Chainlink24h $17.26-5.02%

Genesis creditors sweating as FTX chases $4B in loans and collateral

FTX wants to claw back $2B given to GGC by SBF’s Alameda Research and more than $1.62B that was withdrawn from FTX before it went bust.

Genesis creditors reject bankruptcy settlement, halt proceedings

A group of creditors have said no thanks to a Genesis bankruptcy agreement made two months ago and have new demands.

Prior to the bankruptcy, many Genesis creditors said they still believed they’d be able to get all or most of what they had deposited back.

Genesis Global has voluntarily filed for bankruptcy, along with its crypto lending arm, as parent firm DCG faces rising financial distress.