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 UnitardJan 2023
- 💸Last valuationWiped out
Current status
Chapter 11 (Jan 2023)
The rise & fall
5 moments · 2013–2023The key moments.
2013
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
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
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
Nov 2022
Withdrawals halted days after FTX fails
The lending unit freezes redemptions, and customers can't get their money out.
CNBC
Jan 2023
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.
Source: Cleary Gottlieb
Where they went
- Michael MoroCEO (last permanent CEO)Not on record
- Barry Silbertfounder (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
Current roles as reported by the linked sources, retrieved 2026-08-21. See our methodology.
