Genesis, the crypto lender owned by DCG, filed for bankruptcy protection, the latest collapse to follow FTX’s implosion in November.
This is the latest blow to Barry Silbert’s DCG empire, as the filing follows months of speculation over whether Genesis would enter bankruptcy protection.
Other sizeable claims included a $78 million loan payable from Donut, a high-yield, decentralized platform, and a VanEck fund, with a $53.1 million loan payable. It is clear that the crypto lender’s failure has caused significant damage to Silbert’s DCG empire.
References:
[1] https://www.msn.com/en-us/money/companies/crypto-lender-genesis-files-for-bankruptcy-in-latest-blow-to-barry-silbert-s-dcg-empire/ar-AA16xRyJ
[2] https://lowendtalk.com/discussion/183968/crypto-lender-genesis-files-for-bankruptcy-in-latest-blow-to-barry-silbert-s-dcg-empire
