Talk:Genesis (cryptocurrency company)

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Article may be misnamed: Genesis Global Capital is just one of the three Genesis companies to declare bankruptcy

Latest comment: 1 year ago2 comments2 people in discussion

It appears as if this article may be misnamed: Genesis Global Capital is just one of the three Genesis companies to declare bankruptcy on 19 Jan 2023. Looks like all of the various Genesis companies (that is already a subsidiary of Barry Silbert's Digital Currency Group) are subcompanys (or further subsidiaries) of whatever entity is the meta Genesis company.

Found this on the Genesis restructuring website today:

"Genesis has taken strategic actions to achieve a global resolution to maximize value for all clients and stakeholders and strengthen its business for the future. On January 19, Genesis Global Holdco, LLC and two of its lending business subsidiaries, Genesis Global Capital, LLC and Genesis Asia Pacific Pte. Ltd., filed voluntarily petitions under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of New York. Genesis’s other subsidiaries involved in the derivatives and spot trading and custody businesses and Genesis Global Trading are not included in the filing and continue client trading operations."

Of course, the court filings, and other sources (including secondary sources which Wikipedia prefers, might have more complete info.

The point is: there are a LOT of Genesis companies and subsidiaries. Three have entered Chap 11 bankruptcy reorganization proceedings. What is therefore the proper scope of this article?

Cheers. — N2e (talk) 03:25, 21 January 2023 (UTC)Reply

There's a helpful chart at the bankruptcy case, under "First Day Hearing presentation". I'm not linking it because it triggers an auto-download of a PDF, which can be alarming, but the org chart is on page 4. TL;DR, there are Genesis Global Holdco, LLC and Genesis Global Trading, Inc., each of which is a subsidiary of DCG. Below Genesis Global Holdco, LLC are Genesis Global Capital, LLC and six other entities, each with their own subsidiaries. I'm going to WP:BOLDly move this article to Genesis (cryptocurrency company), since the company primarily refers to itself simply as "Genesis" (see their website etc.). We can then explain the subsidiaries in-text. GorillaWarfare (she/her • talk) 20:40, 28 January 2023 (UTC)Reply

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