We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood

We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details

This website does not provide services to residents of United States.

Trader Affiliates

Market News U.S. crypto broker Genesis says it is working to avoid bankruptcy filing

U.S. crypto broker Genesis says it is working to avoid bankruptcy filing

Genesis, a U.S. cryptocurrency brokerage, announced on Tuesday that it was attempting to escape bankruptcy after Bloomberg News reported on Tuesday that the company's creditors were banding together with restructuring attorneys to avoid bankruptcy.

Jimmy Khan

2022-11-30

292

微信截图_20221130100133.png

Genesis, a U.S. cryptocurrency brokerage, announced on Tuesday that it was attempting to escape bankruptcy after Bloomberg News reported on Tuesday that the company's creditors were banding together with restructuring attorneys to avoid bankruptcy.

According to a report citing sources with knowledge of the matter, creditor groups are seeking advice from Proskauer Rose and Kirkland & Ellis legal firms in an effort to avert a scenario resembling the swift bankruptcy of cryptocurrency exchange FTX.

A Genesis spokeswoman stated, "Our goal is to fix the current lending business position without the necessity for any bankruptcy petition."

Requests for comment from Proskauer and K&E representatives were not immediately fulfilled.

Derar Islim, interim chief executive of Genesis, wrote in a letter to clients that "we have started discussions with potential investors and our largest creditors and borrowers, including Gemini and DCG, to agree on a solution that shores up our lending business' overall liquidity and addresses clients' needs."

According to a report from Barron's last week, which was based on a statement from the director of the Alabama Securities Commission, the report comes as state securities regulators in the United States are looking into Genesis Global Capital as part of a broad investigation into the connections among cryptocurrency firms.

According to the firm's letter, Genesis has recruited investment bank Moelis & Company "to examine the best potential asset preservation strategy and execute a roadmap."

The sudden demise of FTX, where its derivatives business has around $175 million in locked assets, led Genesis Trading's crypto lending division to restrict customer redemptions earlier this month, the company had claimed.

Barry Silbert, the chief executive of venture capital firm Digital Currency Group, informed shareholders this month that Genesis Trading and cryptocurrency asset manager Grayscale owe $575 million to Genesis' crypto lending division.