As the crypto lender Genesis Global Trading filed for Chapter 11 bankruptcy protection in New York, members of the crypto community went on social media to express their thoughts on the matter.
From believing that no one will be held accountable to labeling the entire crypto lending concept as “stupid,” community members gave their thoughts on the newest addition to the seemingly never-ending bankruptcy spree within the crypto space.
Some believe that the winners in all of these events will be bankruptcy lawyers. According to a community member who claimed to be a Voyager creditor, customer funds will be used to pay million to the lawyers and in the end, “no one will be held accountable.”Genesis just filed for chapter 11.
Bankruptcy lawyers making bank on crypto bankruptcies.”Gemini co-founder Cameron Winklevoss pointed out the bankruptcy is “good news” and a step toward Gemini users getting their money back.Read more on cointelegraph.com