NEW YORK, Jan 20 (Bernama-BUSINESS WIRE) — Genesis Global Holdco, LLC (“Genesis” “GGH” or the “company”), an industry pioneer and digital currency prime brokerage, today announced strategic actions to achieve a global resolution to maximize value for all clients and stakeholders and strengthen its business for the future.
As previously announced, Genesis and its advisors have been engaged in ongoing, productive discussions with advisors to its creditors and corporate parent Digital Currency Group (“DCG”) to evaluate the most effective path to preserve assets and move the business forward. Genesis has now commenced a court-supervised restructuring process to further advance these discussions and reach a holistic solution for its lending business, which, if achieved, would provide an optimal outcome for Genesis clients and Gemini Earn users.
