What Genesis's Bankruptcy Means for the Industry
Bloomberg Crypto26 Jan 2023

What Genesis's Bankruptcy Means for the Industry

Crypto lender Genesis has filed for bankruptcy. For many observers in crypto, this wasn't entirely unexpected, not least because the company itself had been warning that it was staring down a liquidity crisis and trying to raise money.

Over the past couple of weeks, Barry Silbert, who is the CEO of the Genesis parent company known as Digital Currency Group, has been in a very public and kind of increasingly nasty online dispute with some fellow billionaires, the co-founders of the Gemini Crypto Exchange, Tyler and Cameron Winklevoss. At the heart of this dispute is around $900 million worth of funds that customers of these two entities have lost access to.

Bloomberg editor Anna Irrera and reporter Emily Nicolle join the show to discuss what Genesis was, why it was so important to the crypto ecosystem and what its relationship is with Gemini.

Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter

See omnystudio.com/listener for privacy information.

Episoder(224)

El Salvador’s Bitcoin Gamble, One Year Later

El Salvador’s Bitcoin Gamble, One Year Later

It’s been one year since El Salvador adopted Bitcoin as legal tender. In September 2021, the Central American nation forged its own path as the first in the world to make the crypto currency an offici...

13 Sep 202219min

Are All Crypto Privacy Services Potentially Criminal?

Are All Crypto Privacy Services Potentially Criminal?

Put a whole bunch of crypto transactions into a blender and lock them up in black box - what do you get? Something metaphorically similar to the experience of using a decentralized app called Tornado ...

12 Sep 202216min

Stressed Miners Strategize to Survive Crypto Downturn

Stressed Miners Strategize to Survive Crypto Downturn

As crypto prices hover well below their all-time highs, the companies that mine Bitcoin are starting to show signs of financial strain. Second quarter earnings reports show that some of the largest U....

9 Sep 202218min

It's Your Crypto. Until The Platform Goes Bust

It's Your Crypto. Until The Platform Goes Bust

When we talk about the “crypto winter," we don’t only mean the months-long decline in prices of different coins and tokens. We’re also referring to organizational failures, crypto CEOs losing their jo...

8 Sep 202219min

Singapore Refines Its Crypto Regulations

Singapore Refines Its Crypto Regulations

Singapore was an early proponent of crypto regulation, attempting to establish itself as a hub for global digital asset companies long before similar pronouncements by countries like the UK.  For a ti...

7 Sep 202214min

Cold Wallets Are a Hot Item for Crypto Users

Cold Wallets Are a Hot Item for Crypto Users

By some estimates, major crypto hacks in 2022 have cost the crypto industry nearly $2 billion in stolen tokens. That’s *just* this year. And those headline numbers typically don’t take account of smal...

6 Sep 202214min

Crypto's Betting Big on Sports

Crypto's Betting Big on Sports

Crypto companies have spent more than $2 billion on sports advertising around the world. The NBA, Major League Baseball, Premiere League, Formula 1…. even the Drone Racing League has a crypto sponsor....

2 Sep 202214min

Wall St Goes Crypto: BlackRock and Coinbase

Wall St Goes Crypto: BlackRock and Coinbase

BlackRock, the world’s largest asset manager, teamed up with the crypto exchange Coinbase in a move that both Wall St and crypto types are watching closely. According to BlackRock, the partnership wil...

1 Sep 202217min

Populært innen Politikk og nyheter

giver-og-gjengen-vg
aftenpodden
forklart
aftenpodden-usa
popradet
i-retten
lydartikler-fra-aftenposten
stopp-verden
rss-gukild-johaug
det-store-bildet
fotballpodden-2
dine-penger-pengeradet
rss-ness
nokon-ma-ga
hanna-de-heldige
aftenbla-bla
bt-dokumentar-2
e24-podden
frokostshowet-pa-p5
rss-penger-polser-og-politikk