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Aug 20

Why did cryptocurrency lending company Genesis file for bankruptcy?

Cryptocurrency lending company Genesis Global Holdco filed for bankruptcy on Thursday evening, making it the latest cryptocurrency company to do so after the collapse of the FTX exchange, founded by Sam Bankman-Fried. About a year ago, Genesis and other major lending firms attracted millions of customers, promising them the ability to deposit cryptocurrencies and earn high returns. However, Genesis' bankruptcy filing marks the fourth major cryptocurrency lending institution to go bankrup...

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