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Genesis<\/strong> owes at least $1.8 billion to its creditors, according to multiple media reports.<\/p>\n The troubled crypto trading and lending company owes<\/a> users of Gemini’s Earn program $900 million and another $900 million <\/a>to a group of assorted debtors represented by law firm Proskauer Rose.<\/p>\n Another ad hoc group of Genesis creditors is being represented by the law firm Kirkland & Ellis in addition to Proskauer.<\/p>\n See Also: Genesis Could Go Bankrupt Without Financing<\/a><\/em><\/p>\n A group of Gemini customers is represented by the law firm Latham & Watkins. After suffering significant losses from FTX and earlier from Three Arrows Capital, Genesis ceased customer withdrawals last month<\/a>.<\/p>\n The company has been attempting to raise capital and has retained investment bank Moelis & Company to help it evaluate alternatives, which may include filing for bankruptcy.<\/p>\n State securities regulators in the U.S. are apparently investigating Genesis.<\/p>\n According to Barrons, Alabama is one of the states investigating whether Genesis “enticed residents to invest in crypto-related securities without making th proper registrations.”<\/p>\n Also read:\u00a0BlackRock CEO Says FTX’s Token Caused Its Collapse, But The Technology Is Still Cutting Edge<\/a><\/em><\/p>\n<\/div>\n