Genesis owes more than $3.6 billion to top 50 creditors

Quick Take

  • Genesis Global filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York.
  • In the filing, the company published a list of its top 50 unsecured claims.

Genesis Global Holdco, which filed for bankruptcy protection in New York late Thursday, owes more than $3.6 billion to its top creditors.

After filing for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York late on Jan. 19, Genesis published a list of its top 50 unsecured claims. The total value of the claims amount to over $3.6 billion. 

Some of the biggest claims — including one of nearly half a billion dollars — are attached to entities whose identities have been redacted. They mostly belong to individual creditors, according to one person familiar with the matter.

The list includes numerous claims involving well-known crypto firms. Gemini Trust Company, which has for weeks been involved in a public spat with Genesis’s parent company Digital Currency Group, tops the list with a claim of $766 million.

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