Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

Crypto, News, US

Crypto lending unit of Genesis files for US bankruptcy

By Tom Hals in Wilmington

The lending unit of crypto firm Genesis filed on Thursday for US bankruptcy protection from creditors, toppled by a market rout along with the likes of exchange FTX and lender BlockFi.

Genesis Global Capital one of the largest crypto lenders, froze customer redemptions on November 16 after FTX stunned the financial world with its bankruptcy, fuelling concern that other companies could implode.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!