Hey Waivly Crew! 🌊 Genesis Global Holdco and two of its lending subsidiaries filed for bankruptcy protection on Thursday. Azuki has partnered with Bilibili International to explore Web3 innovations in anime and media content.
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Crypto lender Genesis files for bankruptcy
Genesis Global Holdco LLC, the parent company of troubled crypto lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection late Thursday.
Genesis Global Holdco, LLC and its subsidiaries Genesis Asia Pacific Pte. Ltd and Genesis Global Capital, LLC filed a trio of voluntary petitions with the bankruptcy court for the Southern District of New York.
In its filings, Genesis Global Capital, the partner firm to Gemini's defunct Earn program, estimated more than 100,000 creditors and between $1 billion and $10 billion in assets and liabilities.
The two other entities listed assets and liabilities in the range of $100 million and $500 million.
"An in-court restructuring presents the most effective avenue through which to preserve assets and create the best possible outcome for all Genesis stakeholders,” Genesis interim CEO Derar Islim said in a statement.
Gemini customers are owed $766 million, according to the bankruptcy filing. Previously, Gemini co-founder Cameron Winklevoss said Genesis owed more than $900 million to Earn investors.
This comes a week after Genesis and Gemini were charged by the U.S. Securities and Exchange Commission with offering unregistered securities through the Earn program.
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NFT Special
Azuki partners with Bilibili International
Azuki has partnered with Chinese video-sharing platform Bilibili International to explore Web3 innovations in anime and media content.
To celebrate the partnership, the companies are offering a few perks to Azuki ecosystem holders. Bilibili users can acquire an exclusive certified diamond label for verifying their ownership of an Azuki, BEANZ, or Cheers Up NFT.
In addition, a new ‘Bilibili cheers!' badge has been added to Azuki's Collector's Profile. Cheers UP and BEANZ also teamed up to design an emoji sticker pack. Holders can use these stickers on Discord or in the Bilibili app.
Beeple announces grand opening of BEEPLE STUDIOS
Beeple, one of the most valuable living artists, has announced the grand opening of his physical studio, “BEEPLE STUDIOS,” on March 11th in Charleston, South Carolina.
Beeple will host the event in partnership with Christie’s. On March 11th, it will be two years since Beeple’s “Everydays: The First 5,000 Days” sold for a record $69 million at the auction house.
The opening event will feature works from XCOPY, Refik Anadol, DeeKay Motion, Blake Kathryn, Pak, Smeccea, Ash Thorp, Coldie, GMUNK, Chelsea Evenstar, and many others.
To ensure the space is open to everyone, Beeple is inviting artists to submit their artwork for the chance to be showcased at the opening. Selected artists will win a free ticket to the event.
All event attendees must hold a Beeple NFT at the time of entry. They must also claim their tickets by February 1st, 11:59 PM EST.
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