.jpg){kind=avatar}
Genesis' lending unit said it had both assets and liabilities in the range of $1b to $10b, and estimated it had more than 100,000 creditors in its filing with the U.S. Bankruptcy Court for the Southern District of New York. Genesis owes its 50 biggest creditors $3.4b, according to calculations from the bankruptcy filing. Its largest creditor is crypto exchange Gemini, which it owes $765.9m.
"However, given that the funds have already been frozen for over two months and no other large crypto company reported an associated weakness, it’s likely that the contagion would be limited."
https://www.reuters.com/technology/crypto-lending-unit-genesis-files-us-bankruptcy-2023-01-20/
