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The holding firm of troubled crypto lender Genesis World Capital, Genesis World Holdco LLC, filed for Chapter 11 chapter safety in New York on Jan. 19. Genesis is the most recent crypto platform to file for chapter, becoming a member of Celsius, Voyager, BlockFi and FTX.
The applying of Chapter 11 provisions to the crypto business raises a collection of latest points for courts. Right here’s a preview of what collectors can anticipate, and what informal observers can be taught concerning the implications of a Chapter 11 course of for an entity within the crypto business.
Kaitlyn Devenyns is an lawyer at Curtis, Mallet-Prevost, Colt & Mosle LLP. She holds a regulation diploma from Brooklyn Regulation College. Elisa Botero is an lawyer for the agency and holds a regulation diploma from Universidad de los Andes and an LLM from Columbia Regulation College.
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