By - Avanish Jaiswal
Date - 25 January 2023
The filing came two months after the company froze customer withdrawals due to the collapse of Sam Bankman-Fried's FTX exchange.
Genesis lawyer, Sean O'Neal, stated in court that they aim to resolve disputes with creditors this week and exit bankruptcy by May 19th.
Genesis reported just over $5 billion of assets and liabilities, and has said it owes more than 100,000 creditors at least $3.4 billion.
The bankruptcy does not include Digital Currency Group or Genesis' derivatives and spot trading, custody, and brokerage businesses.