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Bitcoin has not moved as expected despite the news of Genesis, one of the largest crypto lenders in the world, filing for bankruptcy. This lack of negative movement from bitcoin in response to the news could cement the digital asset’s path to the upside in the coming weeks. Bitcoin Remains Unfazed
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The crypto finance firm filed for Chapter 11 bankruptcy yesterday, with debts around $3.5 billion. Source
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Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations and facilitate the restructuring process.” Genesis’ Bankruptcy Filing Genesis Global
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Bitcoin rose 1% to around $21,000 over the past 24 hours after the Genesis bankruptcy news hit the wires. Ether rose 2% to $1,545, CryptoX data shows. Traders weren’t surprised by bitcoin's and ether's resilience following the news. “The market appeared to expect the Genesis bankruptcy filing for the last
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As the crypto lender Genesis Global Trading filed for Chapter 11 bankruptcy protection in New York, members of the crypto community went on social media to express their thoughts on the matter. From believing that no one will be held accountable to labeling the entire crypto lending concept as “stupid,” community members
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Winklevoss said this move will afford the firm to recoup its funds as the Barry Silbert-led DCG has continued to refuse to offer its creditors a fair deal.Cameron Winklevoss, the co-founder and Chief Executive Officer (CEO) of the Gemini trading platform has threatened to sue Genesis Global and its parent
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Genesis Global Trading, a prominent crypto lender, filed for Chapter 11 bankruptcy protection in New York on Jan. 20, becoming the latest company to declare bankruptcy in the wake of FTX’s collapse. However, the focus of the crypto community has shifted toward other firms that had exposure to the lending
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Bitcoin (BTC), the leading cryptocurrency by market value, traded in stasis at around $21,000, exhibiting a 0.7% gain on a 24-hour basis after the Genesis news hit the wires. The second-largest cryptocurrency, ether (ETH), changed hands near $1,545, up 1.2%, CoinDesk data show. Original Source
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Cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy in the Southern District of New York.The firm has estimated liabilities of $1 billion to $10 billion and assets in the same range, according to the Jan. 19 filing.Earlier reports claimed the company had been considering filing for bankruptcy protection if it
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