According to The Block, citing sources close to Genesis, the company has prepared a detailed list of its debt obligations.. Genesis has listed more than 100,000 of its creditors with total liabilities of up to $11 billion, according to the documents.. Genesis' top 50 creditors account for about $3.6 billion.
In particular, the list of the largest creditors is headed by Gemini Trust Company with a claim for $766 million and the Dutch exchange Bitvavo with €280 million.. Cryptocurrency funds Mirana and Babel Finance the company owed $150 million each. VanEck New Finance, Plutus Lending, Abra and Cumberland DRW follow with claims totaling over $100 million.
Notably, Genesis did not disclose the ownership of several large claims, including one for $500 million, citing private investment from cryptocurrency savings platform Donut.. The law firms Kirkland & Ellis and Proskauer Rose are entrusted with negotiating with Genesis creditors.
Genesis Global Trading filed for bankruptcy protection late Thursday in New York federal bankruptcy court.