Genesis Files Chapter 11 Bankruptcy Documents Listing Assets and Liabilities Estimated Between $1B-$10B

Cryptocurrency company Genesis filed Chapter 11 bankruptcy documents in New York Federal District Court, listing assets and liabilities estimated at between $1 billion and $10 billion, according to Kim Ten. Genesis said, "All aspects of the restructuring will be overseen by the committee, and we have more than $150 million in cash on hand. New loan originations in the lending business remain at a standstill."