Genesis Global Trading
Provisional: this score is the AI investigator's judgment, not yet calculated by our published formula. Treat it as indicative. How scoring works →
anchored·JP77fB…B6DgSummary
Genesis Global Trading, Inc. and its affiliated lending entity Genesis Global Capital, LLC were major crypto OTC trading and institutional lending businesses operating as subsidiaries of Digital Currency Group (DCG), founded by Barry Silbert. Cascading losses from Three Arrows Capital's June 2022 default and further exposure to FTX's November 2022 collapse caused Genesis to suspend customer withdrawals on November 16, 2022, and to file for Chapter 11 bankruptcy on January 19, 2023. The bankruptcy involved over $3 billion in creditor claims, regulatory action by the SEC and New York Attorney General, and ongoing litigation alleging fraud by DCG and its executives.
Connected Entities
6 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Genesis Global Capital→mentioned with→Bitcoin(60%)
- Genesis Global Capital→mentioned with→Ethereum(60%)
- Genesis Global Trading→mentioned with→Alameda Research(80%)
- Genesis Global Capital→mentioned with→Alameda Research(80%)
- Genesis Global Trading→mentioned with→Three Arrows Capital(80%)
- Genesis Global Capital→mentioned with→Genesis Global Trading(80%)
- Genesis Global Capital→mentioned with→Three Arrows Capital(80%)
- Genesis Global Trading→mentioned with→Ethereum(60%)
- Genesis Global Trading→mentioned with→Bitcoin(70%)
- + 1 more
Timeline(20 events)
2013
Genesis Global Trading, Inc. founded as the first institutional OTC Bitcoin trading desk; later becomes a subsidiary of Digital Currency Group.
Wikipedia / Genesis company pageFebruary 2021
Gemini Earn program launches; Genesis and Gemini begin offering retail investors the ability to lend crypto to Genesis in exchange for interest payments.
SEC press release 2023-715 June 2022
Genesis commences AAA arbitration against Three Arrows Capital (3AC), claiming breach of lending agreements; 3AC owed Genesis approximately $2.36 billion.
The Block6 July 2022
Genesis publicly confirms exposure to Three Arrows Capital and receives equity support from parent DCG.
CoinDesk18 July 2022
Genesis files a $1.2 billion claim against Three Arrows Capital in bankruptcy proceedings. DCG issues a ten-year, $1.1 billion promissory note at 1% interest to address the balance-sheet gap.
CoinDesk16 November 2022
Genesis Global Capital suspends all customer withdrawals and new loan originations, citing $175 million in locked FTX funds and loss of industry confidence following FTX's collapse.
CoinDesk10 January 2023
DCG CEO Barry Silbert issues a letter to shareholders acknowledging Genesis's liquidity difficulties.
TechCrunch12 January 2023
SEC charges Genesis Global Capital and Gemini Trust Company with the unregistered offer and sale of securities through the Gemini Earn program, alleging violations of the Securities Act of 1933.
SEC.gov19 January 2023
Genesis Global Holdco, Genesis Global Capital, and Genesis Asia Pacific file Chapter 11 bankruptcy petitions in the Southern District of New York (Case No. 23-10063), listing liabilities of $1.2–11 billion and over 100,000 creditors.
TechCrunch29 August 2023
DCG reaches an in-principle agreement with Genesis creditors, projecting recoveries of 70–90% in USD equivalent.
CoinDesk19 October 2023
New York Attorney General Letitia James files civil fraud lawsuit against Genesis, Gemini, DCG, Barry Silbert, and Michael Moro, alleging concealment of over $1 billion in losses from investors.
NY AG press release9 February 2024
New York Attorney General amends the Gemini Earn lawsuit to reflect approximately $3 billion in alleged total losses.
AxiosMarch 2024
Genesis agrees to pay a $21 million civil penalty to settle SEC charges related to the unregistered Gemini Earn securities offering.
SEC.gov21 May 2024
Bankruptcy court confirms Genesis's Chapter 11 restructuring plan, approving approximately $3 billion in repayments to creditors.
Claims Journal20 May 2024
New York Attorney General secures a $2 billion settlement with Genesis to establish a victims fund, with distributions to approximately 29,000 New York investors via the Gemini Earn program.
NY AG press release14 June 2024
Gemini settles with the New York Attorney General for $50 million and agrees to cooperate with ongoing litigation against DCG and Barry Silbert.
Axios2 August 2024
Genesis restructuring plan becomes effective; Genesis begins distributing approximately $4 billion in digital assets and cash to creditors.
Business Wire11 April 2025
New York state court denies most of DCG's motion to dismiss the NYAG's civil securities fraud suit; primary fraud claims against DCG and Barry Silbert proceed.
CoinDesk19 May 2025
Genesis Liquidating Operating Committee files two lawsuits against DCG, Barry Silbert, and affiliated insiders seeking approximately $3.3 billion, alleging fraudulent transfers and breach of fiduciary duty.
Business Wire / CoinDeskDecision Log
- slot 423161324 · hash 4jiiFizYntakmgbY9sa8uY5drvuvKzDDsXABGijaTUkx
This investigation is cryptographically anchored to the Solana blockchain (1 decision). 25 of 27 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-5
generated: 5/30/2026, 1:00:42 PM
last updated: 5/30/2026, 1:00:42 PM
3 viewsavoid.net — verified advice for a post-truth world