Currencies

FTX recruited customers in Africa by signaling that crypto would protect them from soaring inflation, report says

14 days ago   |   By Business Insider

FTX. NurPhoto/Getty Images
FTX promoted itself in Africa by signaling crypto would shield people's money from inflation, according to the Wall Street Journal.
Many African currencies plummeted last year as the Federal Reserve's interest-rate hikes pushed the dollar higher.
FTX also hosted exclusive events and offered African a $5 sign-up bonus, the WSJ reported.
FTX promoted its exchange in Africa by signaling that investing in crypto could help stop people's money being devalued by high inflation, according to the Wall Street Journal. The crypto group reportedly pitched itself to...
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Crypto brokerage Genesis files for bankruptcy

Crypto brokerage Genesis files for bankruptcy

14 days ago   |   By RT

The collapse of the FTX exchange in late 2022 was the final nail in the coffin for the firm's crypto lending business
Crypto lender Genesis, an industry pioneer and digital currency prime brokerage, filed for US bankruptcy protection from creditors late on Thursday. It is the third major collapse to hit the crypto industry since last year.
Genesis Global Holdco, and its subsidiaries Genesis Asia Pacific Pte and Genesis Global Capital filed three separate petitions in Manhattan federal court. All three fall under the umbrella of Digital Currency Group which also owns crypto news outlet...
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Crypto Giant Genesis Files For Bankruptcy As Casualties Mount After FTX Collapse

14 days ago   |   By Forbes

Cameron Winklevoss threatened to sue Genesis parent company Digital Currency Group and its CEO Barry Silbert to recover some $900 million he claims it owes customers of his crypto platform Gemini.
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Crypto lender Genesis files for bankruptcy as the fallout from FTX's collapse continues

14 days ago   |   By Business Insider

Crypto giant Genesis filed for bankruptcy on Thursday. (Photo illustration by Jonathan Raa/NurPhoto via Getty Images)
Crypto lender Genesis filed for bankruptcy Thursday, the latest fallout from FTX's collapse.
The parent company of Genesis, Digital Currency Group has been battling liquidity issues.
Bankruptcy documents show Genesis has more than 100,000 creditors, with liabilities up to $11 billion.
Crypto lender Genesis Global Holdco filed for bankruptcy protection Thursday, the latest firm to fall victim to the past year's rout in digital assets and the repercussions of FTX's collapse...
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