Post
Topic
Board Service Discussion
Re: Genesis allegedlly prepares for Chapter 11 bankruptcy
by
yhiaali3
on 19/01/2023, 03:23:33 UTC
Yes, I read the disturbing news on a number of social media sites as well as on CoinDesk:
https://www.coindesk.com/business/2023/01/17/crypto-conglomerate-dcg-suspends-dividends-amid-distress-at-genesis-unit/
Quote
Bloomberg just reported that Genesis is preparing to file Chapter 11 bankruptcy
”???!!!
These are really strange laws!! Companies file bankruptcy to protect themselves!!! Well who protects users then?

I knew we were not going to get over the fallout from the FTX crash any time soon, more companies would end up soon.