Genesis Global

Crypto lendingUSA

New to Unitard

💀 Dead / Bankrupt

Peak $1 BillionToday

~-100%

from peak

🦄
Became a unicorn
~2021
📈
Peak valuation
$1 Billion ’21
💔
Became a Unitard
Jan 2023
💸
Last valuation
Wiped out

Current status

Chapter 11 (Jan 2023)

The rise & fall

5 moments · 2013–2023

The key moments.

2013

Founded as a crypto trading desk

A crypto trading desk (later folded into Digital Currency Group) that grows into the industry's institutional lender of choice.

Wikipedia

2021

The peak: crypto's institutional lending desk$1B

At the top of the 2021 bull market, the DCG-owned firm sits at the center of crypto's yield machine.

Wikipedia

Jun 2022

Three Arrows Capital implodes

The hedge fund's collapse leaves Genesis nursing heavy losses — the first blow of the 2022 contagion.

Reuters

Nov 2022

Withdrawals halted days after FTX fails

The lending unit freezes redemptions, and customers can't get their money out.

CNBC

Jan 2023

Chapter 11 — joins the Unitard Club 💔

Genesis files for bankruptcy owing billions to creditors.

Court filing

$1Bof peak value erased · 10 years

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.

Glassdoor reviews, though few, referenced the crypto lender's bankruptcy and the FTX fallout alongside complaints about management and direction.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.

Source: Cleary Gottlieb

Where they went

Michael Moro
CEO (last permanent CEO)
Not on record
Barry Silbert
founder (Genesis began as SecondMarket's bitcoin trading desk in 2013; he relaunched it as Genesis after selling SecondMarket to Nasdaq)
Founder & CEO at Digital Currency Group
source ↗

Current roles as reported by the linked sources, retrieved 2026-08-21. See our methodology.

Disclosed investors (2)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard