According to a declaration filed by Genesis interim CEO Derar Islim, the company has more than $5 billion in liabilities – a sum considerably larger than its assets which, according to a presentation to the court on Monday, include approximately $150 million in unencumbered cash, $500 million in digital assets, $385 million in brokerage accounts and $505 million in outstanding loans to third parties. Also among the assets are large sums owed by its parent company, Digital Currency Group (DCG) – a $575 million loan maturing in May and a $1.1 billion promissory note due in 2032.
Altcoins Set A Higher Low – Bulls Target 2024 High To Trigger Altseason
Altcoins have spent the previous few years below the shadow of Bitcoin’s dominance, struggling to reclaim relevance as capital and...
