Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Chapter 11 Bankruptcy
DCG’s Genesis Global Files for Chapter 11 Bankruptcy
DCG subsidiary Genesis Global Capital filed for bankruptcy protection in the southern district of New York on Jan 19. Following a massive hit from the recent FTX collapse the lender is the latest firm to fold in the ongoing crypto winter. Lending Businesses Seek Bankruptcy Protection News of the filing broke via a press release on Thursday. Per the report Genesis alongside two lending subsidiaries Genesis Global Capital and Genesis Asia Pacific submitted voluntary Chapter 11 applications. This followed rumors…
2 years ago
It’s Official: FTX, FTX US, and Alameda File for Chapter 11 Bankruptcy
After a week-long liquidity crisis followed by a withdrawal freeze, FTX has officially filed for Chapter 11 bankruptcy. Meanwhile, its high-profile leader and former multi-billionaire – Sam Bankman-Fried (SBF) – has resigned as CEO. In a press release on Friday, FTX announced that it has commenced Chapter 11 proceedings in the United States alongside over 130 affiliated companies. One of those companies is Alameda Research – a trading desk SBF previously launched. Many believe it deeply intertwines with FTX. FTX’s…
3 years ago