Genesis Owes Creditors Over $3.5B: Here Are Top 5 Claims
Genesis Global, the crypto lending company that filed for bankruptcy protection in New York late Thursday, owes more than $3.6 billion to its top creditors.
What Happened: Genesis released a list of their top 50 unsecured creditors. We look at the top five unsecured claims, according to the bankruptcy filing.
- Gemini Trust Company tops the list with a staggering claim of $766 million.
- Mirana Corp, who is owed $151 million
- Babel Finance, through an entity called Moonalpha Financial Services Limited, holds a $150 million claim.
- VanEck New Finance Income Fund is owed $53 million,
- Plutus Lending, a division of the crypto platform Abra, with a claim of $30 million.
Meanwhile, over $700 million dollars has been attached to entities whose identities are unknown.
Genesis is owned by DCG and was the first to launch OTC Bitcoin (CRYPTO: BTC) trading desk in 2013.
Price Action: BTC was trading at $20,979 up 0.75% in the last 24 hours, according to Benzinga Pro.
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