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FGS Global is handling the Chapter 11 filing of Genesis Global cryptocurrency lender, which is the latest casualty of the fallout from the implosion of Sam Bankman-Fried’s FTX digital asset exchange, according to the Financial Times.
Genesis in November froze withdrawals due to the market turmoil triggered by the FTX collapse.
It claims the restructuring will optimize outcomes for its clients.
Derar Islim, interim CEO of Genesis, said the company deeply appreciates the ongoing patience and partnership of clients as it works towards an equitable solution.
Genesis has more than $150M in cash on hand, which is expected to provide ample liquidity to support its ongoing business operation and facilitate the restructuring process.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
