Crypto lender Genesis Global Holdco LLC and two of its lending subsidiaries filed Thursday night for Chapter 11 bankruptcy protection in New York. Genesis Global is the latest firm to fold following last year's implosion of the crypto hedge fund Three Arrows Capital and the collapse of FTX. Genesis Global Holdco filed for bankruptcy protection along with Genesis Global Capital, LLC and Genesis Asia Pacific Pte. Ltd. Genesis Global Trading wasn't included in the filing and continues client trading operations. The filing explained Genesis Global Capital, the partner company to Gemini's defunct Earn program, had more than 100,000 creditors and between $1 billion and $10 billion in assets and or liabilities. The other entities had assets and liabilities between the $100 million and $500 million range. Genesis owes its top 50 creditors more than $3.5 billion. Some of those creditors include Gemini, VanEck's New Finance Income Fund, MoonAlpha Finance, Mirana, and Cumberland. They said talks were ongoing, productive discussions" with the advisers of its creditors, along with its parent company Digital Currency Group in the attempt to find a way to "preserve assets and move the business forward." https://www.zerohedge.com/crypto/crypto-lender-genesis-files-bankruptcy-seen-crucial-step-recover-assets