Page 30 - Three Arrows News Today

By Elizabeth Howcroft and Hannah Lang (Reuters) - U.S. crypto company Digital Currency Group (DCG) is at the center of the industry's latest meltdown after one of its companies, Genesis, froze customer withdrawals in November.

As the aftermath of FTXs demise continues to bite.

Crypto lending firm Genesis filed for bankruptcy following the FTX exchange's collapse. (Photo : CryptoWallet. com / Commons. Wikipedia. com) Genesis, a US-based crypto lender, has filed for Chapter 11 bankruptcy following the demise of cryptocurrency exchange FTX.

Genesis Global Capital is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation.

The Securities and Exchange Commission (SEC) of Thailand has introduced new rules for crypto custodians or VASPs that provide crypto storage services.

Genesis Global Capital, the cryptocurrency lending unit of Digital Currency Group, is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation.

CoinDesk broke the story that triggered FTX's solvency crisis in November – but its owners Digital Currency Group have been caught up in the liquidity crunch now plaguing crypto.

Suspended withdrawals at cryptocurrency brokerage Genesis amid the widening crypto-market meltdown have cast an unwanted spotlight on Barry Silbert, the man at the helm of the Digital Currency Group empire.

Toby Gilbert, CEO, Coinweb in a candid conversation with IBTimes speaks on a myriad of issues in the Crypto ecosystem and 2023 outlook.

FTX and other crypto collapses shook many investors' trust in projects that seem too good to be true, but not everyone will learn.