Bear Market
Genesis needs more time to sort ‘complex’ financial situation
Genesis CEO said the firm remains focused on its effort to solve its financial issues.
Oluwapelumi Adejumo 2 min read 
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Oluwapelumi Adejumo 2 min read 
Legal
Gemini Earn users launch class arbitration against Genesis, DCG
The claimants allege that Genesis breached its agreement with Gemini Earn users and engaged in the unregistered sale of securities.
Bankruptcy
Vauld says Nexo acquisition has broken down
Nexo suggests that its plans continue despite Vauld's insistence to the contrary.
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BlockFi one step closer to opening withdrawals, but not for majority of users
The company intends to gain court authorization and allow users to retrieve funds.
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Nexus Mutual expects $3M loss from Orthogonal Trading’s M11 loan default
Nexus Mutual has initiated a withdrawal process for its remaining assets — roughly 12,887 ETH — from the M11 Credit pool.
Lending
Maple Finance severs ties with Orthogonal Trading over insolvency concerns
Orthogonal Trading misrepresented its financial exposure to the FTX collapse and defaulted on repaying its $31 million loan from Maple's M11 lending Pool.
Lending
Nexo bows out of US on regulatory uncertainty
Nexo stated that its "18 months of good-faith dialogue with U.S. state and federal regulators" had not yielded desired results.
Tokenization
Upbots issues recovery plan in light of FTX, Alameda exposure
Upbots had stored part of its liquidity on FTX and tokens on Alameda; it announced plans to mitigate exposure to the companies' collapse.
Bear Market
Genesis sought $1B emergency loan but never got it
A confidential document uncovered by the WSJ depicts Genesis' request for $1 billion loan to recoup liquidity as a result of FTX fallout.
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Bankruptcy
FTX reaches out to Kraken for help as it scrambles for $9.4B bailout; Alameda owes exchange $10B
Bear Market
