The Stellar Development Foundation (SDF), a non-profit organization, is one of the largest creditors of Genesis, a cryptocurrency lending platform affiliated with Digital Currency Group (DCG), which recently filed for bankruptcy protection.
In a statement to CoinDesk, the SDF confirmed that it lent Genesis USD 13 million in 2022, but emphasized that this amount is "very small and insignificant" compared to the rest of its treasury.
Genesis reportedly owes more than USD 3.6 billion to its major creditors. Gemini Trust Company tops the list of creditors with a claim of USD 766 million. According to the bankruptcy filing, Genesis' lending unit has assets and liabilities of between USD 1 billion and USD 10 billion and has more than 100,000 creditors.
