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Crypto lender Genesis has claimed $5.1 billion in liabilities since November

Crypto lender Genesis reported a total of $5.1 billion in liabilities shortly after it stopped its customers from withdrawing funds from the platform in November, according to the company’s bankruptcy filings. Genesis Global Holdco LLC and two of its credit subsidiaries, which filed for bankruptcy protection Thursday in New York, are the latest crypto firms …

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FASB establishes disclosure requirements for crypto holding companies ahead of potential proposal

The Financial Accounting Standards Board said companies will have to disclose details of their major cryptocurrency holdings as part of new proposed rules expected in the coming months. The disclosure plan unveiled Wednesday marks one of the final steps before a rule is proposed that — if approved — would fill a gap for companies …

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