According to a declaration filed by Genesis interim CEO Derar Islim, the company has more than $5 billion in liabilities – a sum considerably larger than its assets which, according to a presentation to the court on Monday, include approximately $150 million in unencumbered cash, $500 million in digital assets, $385 million in brokerage accounts and $505 million in outstanding loans to third parties. Also among the assets are large sums owed by its parent company, Digital Currency Group (DCG) – a $575 million loan maturing in May and a $1.1 billion promissory note due in 2032.

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• Source: https://www.coindesk.com/policy/2023/01/23/lawyers-for-genesis-and-its-creditors-are-optimistic-for-a-quick-resolution-to-bankruptcy-woes/?utm_medium=referral&utm_source=rss&utm_campaign=headlines