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Crypto broker Genesis owes Winklevoss exchange’s customers $900mn

Financial Times LogoFinancial Times2 mo ago

Crypto broker Genesis owes Winklevoss exchange’s customers $900mn - Financial Times

Quick Summary:

Over the summer, Genesis lost $1.1bn on a loan to collapsed hedge fund Three Arrows Capital.

The creditor committee is in negotiations with both Genesis and DCG, the parent group of Genesis which is run by billionaire Barry Silbert, the people said.

Gemini has now formed a creditors’ committee to recoup the funds from Genesis and its parent DCG, the people said.


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Article Details

Author / Journalist: Nikou Asgari

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-12-03 @ 11:48:58 (2 months ago)

News Timezone: GMT -5:00

Ranking: #3 (out of 5565 stories this day)

News Source URL: ft.com

Language: English

Readers: 71 people read this story

Article Length: 552 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 2118355

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About Financial Times

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 7 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 10 hours ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

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News Language: English

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Publisher ID: #3

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