{"id":541382,"date":"2023-01-20T15:47:23","date_gmt":"2023-01-20T12:47:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/genesis-bankruptcy-filing-sparks-various-community-responses\/"},"modified":"2023-01-20T15:47:23","modified_gmt":"2023-01-20T12:47:23","slug":"genesis-bankruptcy-filing-sparks-various-community-responses","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/genesis-bankruptcy-filing-sparks-various-community-responses\/","title":{"rendered":"# Genesis bankruptcy filing sparks various community responses"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b764b86a86\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b764b86a86\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/genesis-bankruptcy-filing-sparks-various-community-responses\/#%E2%80%9D_Genesis_bankruptcy_filing_sparks_various_community_responses_%E2%80%9C\" >&#8221; Genesis bankruptcy filing sparks various community responses &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Genesis_bankruptcy_filing_sparks_various_community_responses_%E2%80%9C\"><\/span>&#8221; Genesis bankruptcy filing sparks various community responses &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvODg5NDFjYzUtZDJmMC00ZjQ3LTllYjAtMmYyZjBlYTE0YzhkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>As the crypto lender Genesis Global Trading\u00a0filed for Chapter 11 bankruptcy protection in New York, members of the crypto community went on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> to express their thoughts on the matter.\u00a0<\/p>\n<p>From believing that no one will be held accountable to labeling the entire crypto lending concept as \u201cstupid,\u201d community members gave their thoughts on the newest addition to the seemingly never-ending bankruptcy spree within the crypto space. <\/p>\n<p>Some believe that the winners in all of these events will be bankruptcy lawyers. According to a community member who claimed to be a Voyager creditor, customer funds will be used to pay million to the lawyers and in the end, \u201cno one will be held accountable.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Genesis just filed for chapter 11. <\/p>\n<p>Bankruptcy lawyers making bank on crypto bankruptcies.<\/p>\n<p>\u2014 Coin Bureau (@coinbureau) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinbureau\/status\/1616306567384600578?ref_src=twsrc%5Etfw\">January 20, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\u201dGemini co-founder Cameron Winklevoss <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cameron\/status\/1616302995251302400\">pointed<\/a> out the bankruptcy is \u201cgood <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>\u201d and a step toward Gemini users getting their money back. Still, a community member called out Winklevoss\u2019 tweet and reiterated that the only victims are the users. According to the user, Gemini is \u201calso as guilty\u201d for not <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TajoCrypto\/status\/1616302000261718016\">doing<\/a> its due diligence on Genesis\u2019 way of doing business before partnering with them.\u00a0<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>CFTC commissioner calls for global industry standards in crypto regulation<\/em><\/strong><\/p>\n<p>Meanwhile, a crypto analyst created an illustration of how crypto firms were potentially connected throughout the recent bankruptcies the industry faced. According to the analyst, the Genesis bankruptcy will reveal crypto\u2019s leverage cycle. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Genesis bankruptcy is going to reveal the entire crypto leverage cycle. <\/p>\n<p>Enjoy. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/X9zduPzlQY\">pic.twitter.com\/X9zduPzlQY<\/a><\/p>\n<p>\u2014 Alfa (@alphaketchum) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/alphaketchum\/status\/1616326351870431233?ref_src=twsrc%5Etfw\">January 20, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Seemingly sick and tired of the negativity that surrounds the space, some community members expressed their lack of trust in crypto companies. A Twitter user <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nopumpnodump\/status\/1616331985395355648\">said<\/a> that people couldn\u2019t trust United States-based companies anymore, as they were all connected. Dogecoin (DOGE) creator Billy Markus also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BillyM2k\/status\/1616302347403026438\">commented<\/a> on the issue, dubbing the entire concept of crypto lending as \u201cstupid\u201d and calling everyone involved an \u201cidiot.&#8221;<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/genesis-bankruptcy-filing-sparks-various-community-responses\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Genesis bankruptcy filing sparks various community responses &#8220; As the crypto lender Genesis Global Trading\u00a0filed for Chapter 11 bankruptcy protection in New York, members of the crypto community went on social media to express their thoughts on the matter.\u00a0 From believing that no one will be held accountable to labeling the entire crypto lending&#8230;<\/p>\n","protected":false},"author":1,"featured_media":541383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/88941cc5-d2f0-4f47-9eb0-2f2f0ea14c8d.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74864,77595,117,7058],"class_list":["post-541382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-gemini","tag-lending","tag-business","tag-community"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/541382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=541382"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/541382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/541383"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=541382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=541382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=541382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}