This material (information) was produced, distributed and (or) sent by a foreign agent of RS-Balt JSC or relates to the activities of a foreign agent of RS-Balt JSC. 18+
Cryptocurrency exchange Genesis filed for bankruptcy after the collapse of the FTX crypto exchange, reports Bloomberg.
According to the agency, Genesis was the latest company to fail after FTX’s precipitous fall. It is stated that the exchange Genesis has partnered with FTX, including providing loans to the latter. The parent company of the crypto exchange Digital Currency Group made attempts to save Genesis, in particular, tried to attract investors and cut 30% of the staff in November, but “a large number of withdrawal requests” led to bankruptcy.
Recall that the FTX exchange at the beginning of November 2022 announced that it had filed for bankruptcy, and its head, Bankman-Fried, had resigned. In December, the US Securities and Exchange Commission, which regulates the securities market, charged Bankman-Fried with defrauding investors. The agency claimed that the crypto exchange received $1.8 billion from investors, after which these funds were transferred to a private hedge fund owned by a businessman.
Bankman-Fried was detained in December in the Bahamas at the request of Washington and extradited to the United States. According to CNN, if Bankman-Fried is found guilty, he could face up to 115 years in prison.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
