DOGE co-founder BillyM2k slams BarrySilbert for shorting Dogecoin as Genesis files for bankruptcy
The company's debt to at least 50 creditors stands at $3.5 billion and includes Winklevoss-run crypto exchange Gemini and New Finance Income Fund run by VanEck fund manager.
The collapse of FTX was the last straw for Genesis, which also suffered massive losses due to the bankruptcy of the Three Arrows Capital fund, which happened last year. Billy Markus stated that the whole business of"crypto lending is stupid," and so is everyone who gets involved in it. Genesis is not the only company belonging to DCG that is being hit by the lack of funding now. As reported by U.Today earlier, prominent crypto media outlet CoinDesk run by Barry Silbert's firm is now looking for a new buyer. Cardano founder Charles Hoskinson stated that he would check the strike price and that heExplaining his interest in this purchase, he stated that he would like to bring more innovation to the crypto media industry and restore journalistic integrity.
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