Former Genesis Employee Reportedly Raises Millions for Crypto Hedge Fund Amid Bankruptcy Concerns

The crypto world is buzzing with news that a former Genesis employee reportedly raised millions for a crypto hedge fund just as the former company neared bankruptcy. This development raises eyebrows and sparks debate about the timing and ethics involved.

Just weeks before crypto lender Genesis filed for bankruptcy, three former employees of the company claimed they had secured millions of dollars for a new crypto hedge fund. This timing has fueled scrutiny and speculation within the industry.

Hunting Hill Digital: A New Crypto Venture

According to CNBC, former Genesis executive Matt Ballensweig told a potential investor in mid-December that his fund, called Hunting Hill Digital, had raised $2.5 million from Bessemer. Matt Ballensweig, who left Genesis in September after more than five years at the firm, sent a message to watch now. This venture highlights the continued interest in crypto investment despite market volatility and the Genesis bankruptcy.

Ex-Genesis execs claimed they raised millions for crypto hedge fund just as the former company neared bankruptcy. The fund, Hunting Hill Digital, aims to capitalize on market opportunities, but its connection to a struggling Genesis raises questions about transparency and insider knowledge.

The news has ignited discussions about the responsibilities of executives leaving companies facing financial difficulties. While the fund’s investors remain undisclosed beyond Bessemer, the story continues to unfold, adding another layer of complexity to the Genesis bankruptcy saga.

Just weeks before crypto lender Genesis filed for bankruptcy, three former employees of the company claimed they had secured millions of dollars for a new crypto venture. According to CNBC, former Genesis executive Matt Ballensweig told a potential investor in mid-December that the fund he was planning, called Hunting Hill Digital, had raised $2.5 million.