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Al Jazeera
Al Jazeera
Business

Crypto giant Genesis files for bankruptcy, after FTX collapse

Crypto lender Genesis has filed for bankruptcy [File: Edgar Su/Reuters]

Genesis, one of the biggest cryptocurrency lenders, has filed for bankruptcy in the United States, becoming the latest casualty of the global crypto meltdown.

Genesis Global Capital filed for Chapter 11 bankruptcy protection late on Thursday in New York, with a court filing estimating the lenders’ assets and liabilities to both be in the range of $1bn-$10bn.

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