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Crypto contagion claims Genesis

The crypto world is a land of confusion. Lender Genesis filed for Chapter 11 bankruptcy protection late Thursday. The filing follows months of speculation over whether Genesis would file for bankruptcy. The lender is a key part of Barry Silbert’s Digital Currency Group, which has fallen under increasing pressure since the collapse of Three Arrows Capital and Sam Bankman-Fried’s empire, including Alameda Research and FTX. Genesis listed over 100,000 creditors, with liabilities ranging from $1.2 billion to $11 billion, according to bankruptcy documents.$SPDR S&P 500 ETF(SPY.US)$ $Invesco QQQ Trust(QQQ.US)$
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