Stellar Development Foundation listed as creditor in Genesis bankruptcy with $13 million claim. SDF confirmed the loan but called it immaterial to its $200M+ treasury, stating it does not impact operations.
The Stellar Development Foundation was revealed as one of Genesis's largest creditors in the crypto lending platform's bankruptcy filing, with a $13 million claim. SDF loaned the funds to Genesis in 2022 but characterized the amount as immaterial relative to its overall treasury of 30 billion XLM (valued above $200M). The foundation stated the claim does not impact its operations. Genesis owes $3.5 billion to its top 50 creditors, highlighting widespread contagion from the collapse across the crypto ecosystem, including pension funds and other major institutions.
