STORY: Another big name is in trouble in the world of digital money.
The crypto lending unit of Genesis filed for bankruptcy protection on Thursday (January 19) in the U.S.
It says it has assets and liabilities both ranging somewhere between $1 billion to $10 billion.
Options now include a sale of the business.
Genesis is just the latest firm to struggle following last year’s plunge in crypto prices.
That includes major exchange FTX, which went under amid a welter of accusations over missing customer money.
Next in the spotlight could be billionaire twins Cameron and Tyler Winklevoss
The former Olympic rowers are now crypto entrepreneurs.
And they says Genesis owes more than $900 million to investors in a product run jointly with their firm Gemini.
The twins have been engaged in a very public Twitter spat with Barry Silbert - the boss of Genesis parent firm Digital Currency Group.
They say they may now sue him if he doesn’t make a fair offer to creditors.
Earlier in January, the U.S. Securities and Exchange Commission charged Genesis and Gemini with illegally selling securities to investors.