Crypto Lender Genesis Seeks Creditor Deal in Days or Mediator
- Company appeared in bankruptcy court for first time Monday
- US Trustee questions probe of claims against parent DCG
Photographer: Gabby Jones/Bloomberg
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Crypto lender Genesis Global Holdco LLC will either have a deal in days with creditors owed about $3 billion, or it will ask the judge overseeing its bankruptcy to appoint a mediator to lead negotiations, the company said in court Monday.
The talks have included Barry Silbert’s Digital Currency Group, which is Genesis’ parent and one of the company’s top borrowers, company attorney Sean O’Neal said during a court hearing held by video. Genesis holds more than $1.65 billion in claims against DCG, O’Neal said.