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Genesis Global debtors post $72.09 million net income for September
By Sarah Lizee
Olympia, Wash., Oct. 31 – Genesis Global Holdco, LLC and its affiliated debtors reported a $72.09 million net income for September on $64.44 million of total non-interest revenue, according to a monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.
In comparison, the company reported a $217.8 million net loss for August on negative $216.95 million of total non-interest revenue.
The debtors had $422.35 million in cash and cash equivalents at the end of September, up from $338.61 million at the end of August.
Genesis Global is a New York-based cryptocurrency lender. The company filed bankruptcy on Jan. 19, 2023 under Chapter 11 case number 23-10063.
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