Genesis owes $3.6 billion to 50 distinct creditors, including hedge funds, investment companies, and at least one DeFi app with a focus on consumers.
About the Debts of Genesis
Over $3.6 billion in debt to its biggest creditors was disclosed in the Southern District of New York petition. About fifty percent of the debtors were anonymous.
Gemini
Crypto exchange Gemini came in the first place, with a disputed debt of almost $765.9 million, according to data provided by defunct cryptocurrency broker Genesis in its most recent Chapter 11 bankruptcy filing.
Mirana Corp
A company called Mirana Corp, situated in Singapore, is the second-largest named creditor and is owed about $151.5 million. The Seychelles-registered subsidiary of Mirana Corp, Mirana Ventures, has been making significant investments in the sector, supporting projects like Matter Labs’ Ethereum scaling solution and Animoca Brands’ cryptocurrency gaming company.
Moonalpha Financial Services Limited
Moonalpha Financial Services Limited, a Hong Kong-based company that does business as Babel Finance, is the third-largest identified creditor.
Coincident Capital
Hedge fund Coincident Capital occupies the fourth spot, with Genesis owing the Cayman Islands-based company over $112 million.
Donut
With a debt of almost $78 million, Donut, a mobile DeFi program that offered investors up to 6% returns on their money, was identified as the fifth-highest-named creditor.
Leave a comment