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Crypto lender Genesis files for bankruptcy in latest blow to Barry Silbert’s DCG empire
Crypto lender Genesis filed for Chapter 11 bankruptcy protection late Thursday night in Manhattan federal court, the latest casualty in the industry contagion caused by the collapse of FTX and a crippling blow to a business once at the heart of Barry Silbert’s Digital Currency Group.
The company listed over 100,000 creditors in a “mega” bankruptcy filing, with aggregate liabilities ranging from $1.2 billion to $11 billion dollars, according to bankruptcy documents.
Comments
The FTX could be back, so expect a “new” exchange scam:
https://crypto.news/new-ftx-boss-john-ray-says-exchange-could-come-back/
Binance was final destination for millions in funds from Bitzlato, exchange shut down for alleged money laundering
Federal prosecutors unsealed an indictment against a little-known crypto exchange called Bitzlato on Wednesday, alleging that it facilitated the laundering of $700 million in tainted crypto tied to the now-shuttered dark-web market Hydra, and millions more in ransomware proceeds.
https://www.cnbc.com/2023/01/19/binance-was-final-destination-for-millions-in-funds-from-bitzlato.html
I hope the NSA is behind some of these exchanges and getting all these laundering customers and details. Now THAT is the best way to repatriate tax avoidance money from these cocksuckers.