Decentraland Founders Are Creditors of Bankrupt Genesis - How Much Are They Owed?
Three Decentraland executives, including two co-founders and the platform's CFO, are named among the top creditors of now-bankrupt cryptocurrency lender Genesis Global.
Decentraland co-founders Esteban Ordano and Ari Meilich and the platform's CFO Santiago Esponda are listed among the 50 largest non-insider unsecured claims against Genesis, which filed for Chapter 11 bankruptcy protection in the US on Thursday.
The crypto lender revealed the names of its largest creditors on the same day that it filed for bankruptcy, which included crypto exchange Gemini, trading giant Cumberland, Mirana, MoonAlpha Finance, and VanEck’s New Finance Income Fund.
A company called Heliva International Corp also appeared on the list with a $55 million claim. The firm listed Decentraland’s CFO Santiago Esponda as a contact point
Aside from Esponda, a closer look at the document reveals that Decentraland's two co-founders are also listed with non-Decentraland email addresses.
Ordano, who is currently an advisor at Decentraland, is listed as the contact for another company called Winah Securities, to which Genisis owes around $27 million. Notably, the document shows that Winah is located on the same floor in the same building as Heliva.
And finally, Genesis owes $20 million to Meilich's gaming company Big Time Studios. According to his LinkedIn profile, Ari Meilich was a co-founder of Decentraland and worked there until April 2020 as project lead when he left the platform to establish his own company Big Time Studios. He also remains a Decentraland adviser.
Genesis eventually filed for Chapter 11 bankruptcy protection on Thursday after weeks of speculation about the crypto lender's financial health. Genesis Global Holdco LLC, plus subsidiaries
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