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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.
Joele Frank represents LXP Industrial Trust as the logistics giant agrees to be acquired by Brookfield Asset Management and the Canada Pension Plan Investment Trust for $5.2B in cash.
Jenn Kettnich, who has more than 15 years of financial communications experience, has joined Liftoff Mobile as VP-investor relations following completion of its recent IPO.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
