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https://www.wsj.com/articles/crypto-lender-genesis-files-for-bankruptcy-ensnared-by-ftx-collapse-11674191903
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Cryptocurrency lender Genesis Global Holdco LLC and two of its lending subsidiaries filed for bankruptcy protection late Thursday night in New York, the latest domino to fall after the failure of crypto exchange FTX.
The bankruptcy marks the end of an era in which the lending of crypto assets fueled trades by both individual and institutional investors chasing high yields. A big drop in crypto prices that began in late 2021 led to the
collapse of many companies that depended on that business model. Genesis held on longer than others. Crypto lenders Celsius Network LLC and Voyager Digital Ltd. filed for bankruptcy in July.
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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.