Fairfax County, Virginia, pension Funds exposed to Genesis bankruptcy
01/20 23:30
Genesis Global Holdco, the parent company of cryptocurrency lender Genesis Global Capital and a sister company of CoinDesk, filed for Chapter 11 bankruptcy protection late Thursday.
Genesis owes over $3.5 billion to its top 50 creditors – and one of the creditors has ties to a $6.8 billion pension fund system in Fairfax County, Virginia.
The list of creditors in the bankruptcy filing included the New Finance Income Fund from global asset manager VanEck with a $53 million claim against Genesis.
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