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Genesis Global

Crypto lendingUSA
💀 Dead / Bankrupt
Peak $1 BillionToday
~-100%
from peak
  1. 🦄
    Became a unicorn
    ~2021
  2. 📈
    Peak valuation
    $1 Billion ’21
  3. 💔
    Became a Unitard
    Jan 2023
  4. 💸
    Last valuation
    ~$0
Current status
Chapter 11 (Jan 2023)

How it happened

Genesis Global was a US crypto lending and trading firm tied to Digital Currency Group. It was hit hard by the 2022 crypto contagion, suffering heavy losses from exposure to the collapses of Three Arrows Capital and FTX. Genesis halted withdrawals in late 2022 and filed for Chapter 11 bankruptcy in January 2023, owing billions to creditors.

Source: Cleary Gottlieb