Jan 18 (Reuters) - Cryptocurrency lender Genesis Global Capital plans to file for bankruptcy as soon as this week, Bloomberg News reported on Wednesday, citing people with knowledge of the situation.
Bankruptcy filing expected for weeks after company froze customer redemptions on November 16 following the crash of major cryptocurrency exchange FTX.
FTX's collapse in November has claimed several victims, including crypto lender BlockFi and Core Scientific Inc, one of the largest publicly traded crypto mining companies in the United States, which filed for bankruptcy in the months that followed.
Genesis, its parent Digital Currency Group and creditors have exchanged various proposals but have so far been unable to reach an agreement, according to Bloomberg. report he said, adding that Kirkland & Ellis and Proskauer Rose have been advising groups of creditors.
Genesis did not immediately respond to a Reuters request for comment.
Genesis is also locked in a dispute with Gemini, founded by identical twin cryptocurrency pioneers Cameron and Tyler Winklevoss.
Gemini offered a crypto lending product called Earn in partnership with Genesis, and now says Genesis owes it $900 million in connection with that product.
The US Securities and Exchange Commission last week he said he had charged Genesis and Gemini with the illegal sale of securities to hundreds of thousands of investors through their crypto lending program.
Reporting by Niket Nishant and Mehnaz Yasmin in Bangalore; Edited by Sriraj Kalluvila
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