Crypto Lender Genesis Considers Bankruptcy, Lays Off 30% of Staff

Crypto Lender Genesis Slashes 30% of Staff, Considers Bankruptcy

Genesis adds to earlier job cuts after the collapse of crypto exchange FTX. The news compounds Genesis's problems, as it owes $900 million to crypto exchange Gemini.

Crypto Lender Genesis lays off 30% of staff, report

The firm halted withdrawals by depositors to its lending unit in November.

Genesis Billionaire-Backed Crypto Lender Axes 30% Of Jobs Months After Laying Off 20% Of Staff - GRAYSCALE ETHRM TR ETH by Grayscale Ethereum Trust (ETH) (OTC:ETHE)

As the crypto lending industry faces increasing financial pressure, Genesis Trading, a subsidiary of Digital Currency Group (DCG), announced a 30% reduction in its workforce, as reported by CNBC.  The move followed the layoff of 20% of Genesis staff last year and the replacement of its CEO. The total number of job cuts now stands at 145. What Happened: The decision came after Genesis hired bankruptcy professionals following the collapse of FTX a…

Crypto firm Genesis, crippled by FTX collapse, lays off 30% of staff, considers bankruptcy: report

Cryptocurrency lender Genesis Global Trading reportedly laid off 30% of its employees on Thursday and has openly examined filing for bankruptcy.

Crypto brokerage Genesis lays off 30% of its staff in an effort to survive

Crypto broker and lender Genesis Trading has laid off 30% of its staff as the firm struggles after several setbacks in 2022.

Crypto lender Genesis Trading lays off 30% of workforce

Barry Silbert's Genesis Trading reduced headcount by 30%, or 60 jobs, as the crypto lender fends off a potential bankruptcy filing after the collapse of FTX.