This did seem to be inevitable.
Reporting comes via CNBC:
- Genesis Trading filed for bankruptcy protection after suffering crippling losses from the collapses of FTX and hedge fund Three Arrows Capital.
- The filing follows months of speculation over whether Genesis would enter bankruptcy protection, and just days after the Securities and Exchange Commission filed suit against Genesis and its onetime partner, Gemini, over the unregistered offering and sale of securities.
BTC update, not much of a response, so far at least. But, yeah, this really is not a surprise.