Gemini's $800M Claim On Genesis Isn't Secured, Judge Says

By Alex Wittenberg · February 8, 2024, 7:26 PM EST

A New York bankruptcy judge rejected cryptocurrency exchange Gemini's argument that it has a secured claim on more than $800 million in Genesis Global Capital assets, ruling that because Genesis never...

To view the full article, register now.
Try a seven day FREE Trial

Already a subscriber? Click here to login

Bankruptcy Scorecard

Summary

Cryptocurrency lending platform Genesis Global Holdco LLC filed for Chapter 11 bankruptcy in January 2023 with $5.1 billion, after huge players in the digital asset space fell into Chapter 11, including exchange FTX Trading Ltd. and lending platform Celsius Networks.

Case Number

23-bk-10063

Judge

Sean H. Lane

Venue

U.S. Bankruptcy Court for the Southern District of New York

Capital Structure

Total Liabilities:

$5.1 billion

View Full Scorecard

Documents

Related Sections

Case Information

Case Title

Genesis Global Holdco, LLC

Case Number

1:23-bk-10063

Court

New York Southern

Nature of Suit

Date Filed

January 19, 2023

Recent Articles By Alex