Genesis Global’s disclosure statement hearing moved to Nov. 28

By Sarah Lizee

Olympia, Wash., Nov. 20 – Genesis Global Holdco, LLC’s hearing on approval of the disclosure statement for its Chapter 11 plan has been moved to Nov. 28 from Nov. 1, according to a notice filed with the U.S. Bankruptcy Court for the District of Delaware.

The plan and disclosure statement have been amended several times after being unable to reach an agreement with its creditors and parent company Digital Currency Group (DCG). The company is also now facing a lawsuit from the Office of the New York Attorney General alleging that it defrauded investors in connection with the Gemini Earn Program and a DCG note.

The company has until noon ET on Nov. 27 to file a further amended disclosure statement.

Genesis Global is a New York-based cryptocurrency lender that filed bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York on Jan. 19, 2023 under Chapter 11 case number 23-10063.

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