Platform dossier
Institutional crypto lender and trading-linked firm whose lending arm halted withdrawals after the 2022 market contagion, filed for Chapter 11 in January 2023, and became central to Gemini Earn customer recovery.
Genesis halted lending withdrawals after the FTX collapse, entered Chapter 11, and proceeded through a wind-down plan that enabled major Gemini Earn customer distributions while broader creditor outcomes remained plan-dependent.
Genesis customer outcome is complex. Gemini Earn customers reportedly received substantial in-kind distributions after the Genesis process, while broader Genesis creditor recoveries depended on the liquidation plan and claim class. This seed should be upgraded with direct plan documents.
Genesis terms risk should be read as product- and claim-class dependent. Gemini Earn was connected to Genesis lending but has a separate customer-facing structure.
Genesis creditor and Gemini Earn-linked outcomes depended on program structure, claim class, and the bankruptcy plan rather than a single universal customer-ownership rule.
Genesis outcomes varied between Gemini Earn customers and other Genesis creditor classes. This seed focuses on lending and Earn-related recovery and should be expanded with plan-level court documents.
Genesis developed into a major institutional crypto trading and lending business, later operating a large lending arm tied to Gemini Earn and other counterparties.
Launch date is approximate and should be refined with company-history sources.
Genesis Global Capital halted withdrawals and new loan originations after the FTX collapse and related market disruption.
Core failure-chain event affecting Gemini Earn.
Genesis Global Holdco, Genesis Global Capital, and Genesis Asia Pacific filed for Chapter 11 protection in New York.
Main bankruptcy filing.
A bankruptcy judge approved Genesis's liquidation plan, clearing a path for distributions to customers and creditors.
Outcome differs by creditor class; Gemini Earn was a key related recovery case.
Gemini announced that Earn users would receive in-kind distributions after the Genesis bankruptcy process and related settlement work.
This event is linked to Genesis through Gemini Earn but should be kept distinct from all Genesis creditor classes.
Genesis / PR Newswire · 2022-11-16
Supports Genesis lending halt.
Kroll Restructuring Administration
Bankruptcy portal for Genesis debtors.
Reuters · 2024-05-17
Supports plan approval and repayment context.
Gemini · 2024-05-29
Gemini Earn is linked to Genesis lending exposure but not identical to all Genesis creditor outcomes.