According to Bloomberg, Genesis, which is estimated to owe creditors up to $3 billion, is in private talks with several creditor groups and has threatened to file for bankruptcy if it cannot raise the necessary funds.

It is currently building the framework for a bankruptcy petition, which may occur as soon as this week.

According to the FT, Genesis’ parent company Digital Currency Group (DCG), which has a venture capital portfolio worth about $500 million, has had trouble attracting outside financing.

CTA block | Explore Deeper Industry Insights

About 30% of the staff at Genesis Global Capital’s lending division were let go last month as the company dealt with the aftermath of FTX after already having to stop customer withdrawals.

And there is growing pressure on the firm to fulfill 900 million dollars in locked deposits.

Genesis, a cryptocurrency broker, is apparently preparing to file for bankruptcy, which may happen as soon as this week.

Milena Moon is the head of media projects in the marketing department of the B2BROKER Group. Milena's career began in 2018 as a freelance social media journalist. Since then, she has sought out and written about the latest crypto trends, from news in the sector to educational articles that help newcomers immerse themselves in the crypto industry in the easiest way possible. Milena also has experience and education in the TV industry, which help other B2BROKER projects thrive.

Milena Moon is the head of media projects in the marketing department of the B2BROKER Group. Milena's career began in 2018 as a freelance social media journalist. 

Milena Moon	

As a hard-working, goal-oriented, and well-rounded person, I always strive to do quality work for every job I do. Faced with challenging tasks in life, I have developed the habit of thinking rationally and creatively to solve problems, which not only helps me develop as a person, but also as a professional.

Speaking about my professional activities, I can say that I have always been attracted to the study of foreign languages, which later led me to the study of translation and linguistics. Having great experience as a translator in Russian, English and Spanish, as well as good knowledge in marketing and economy, I successfully mastered the art of copywriting, which became a solid foundation for writing articles in the spheres of Fintech, Financial markets and crypto.

Constantine Belov

Genesis is Getting Ready to File for Bankruptcy.

Alexander Shishkanov has several years of experience in the crypto and fintech industry and is passionate about exploring blockchain technology. Alexander writes on topics such as cryptocurrency, fintech solutions, trading strategies, blockchain development and more. His mission is to educate individuals about how this new technology can be used to create secure, efficient and transparent financial systems.

Alexander Shishkanov has several years of experience in the crypto and fintech industry and is passionate about exploring blockchain technology. 

Alexander Shishkanov

By using this site you thereby agree to our terms of use of cookies as set out in our 

Contact form

Footer for Header 03.09.2025

Unlock 2025-ready trading with our strategic guide to liquidity aggregator technology: discover the benefits, implementation steps, and B2B SaaS growth insights.

What Is a Liquidity Aggregator? A Guide for Modern Brokerages and Exchanges

The shadow government of Myanmar, the National Unity Government (NUG), which is run by followers of imprisoned leader Aung San Suu Kyi, has designated Tether (USDT) as an official currency for local use. 

Myanmar Shadow Government Declares Stablecoin USDT an Official Currency

A couple of years ago, bitcoin was considered a currency of drug dealers and arms traffickers, while Ethereum was known only by a narrow circle of computer nerds. But things have changed. Now both kindergarten nurse in Hong Kong and a farmer from the Moscow suburbs are engaged in cryptocurrency trading. Interest to digital currencies […]

Get the Cryptocurrency Liquidity from B2BROKER!

Happy new year and Merry Christmas from B2BROKER team! We’d like to say thanks that you have been with us. We hope to have a chance to support you on the way onwards and upwards of brokerage business. The departing year was challenging the industry, but we worked hard to help brokerage companies worldwide to […]