Genesis Global Capital, LLC
Filed for Chapter 11 after halting withdrawals in November 2022 in the wake of the FTX collapse.
Creditor process: Plan confirmed in May 2024. Restructuring completed and distributions of roughly USD 4 billion begun, with claims against parent Digital Currency Group preserved for the wind-down entity. Further distribution notices were filed through October 2025.
Compliance snapshot
- Ceased lending January 2023 — Chapter 11
- SEC charged the Gemini Earn programme as an unregistered offering
- Plan confirmed May 2024; about USD 4 billion in distributions begun
- Claims against parent Digital Currency Group preserved
Defunct since 2023. The lending business was the subject of securities charges and a state settlement, and creditors are being repaid through a wind-down rather than by an operating firm.
Licenses & registrations
No licence or registration on file. The provider ceased operations before any authorization under the current regime.
Reputation
Verified reputation data is unavailable
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- Customer reviews
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- Press sentiment
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Recent press
- 2024-08-02Genesis completes restructuring and begins creditor payoutsNeutral
Banking Dive — Distributions of around USD 4 billion started following plan confirmation.
Incidents & enforcement
- 2023-01-19Enforcement≈ USD 3.5 billion owed to top creditors
Chapter 11 filing for Genesis Global Capital and affiliates.
- 2023-01-12Enforcement
SEC charged Genesis and Gemini over the Gemini Earn programme as an unregistered securities offering.
- 2022-11-16Enforcement
Withdrawals and new loan originations suspended following the FTX collapse.
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Profile last reviewed 2 Sept 2026 (2026-09-02)