Cryptocurrency lending platform Genesis Global Trading has filed for Chapter 11 bankruptcy, according to reports.
The company, which is part of venture capital firm Digital Currency Group, has listed over 100,000 creditors in its filing, with liabilities ranging from $1.2 billion to $11 billion.
The bankruptcy filing comes days after the US Securities and Exchange Commission (SEC) sued Genesis and its former partner, Gemini, for offering and selling securities without registration.
Genesis halted withdrawals in November after making bad bets on loans to crypto hedge funds and OTC firms.
