Crypto lender Genesis reported a total of $5.1 billion worth of liabilities shortly after it stopped its customers from making withdrawals from the platform in November, according to the company’s bankruptcy filings.

Genesis Global Holdco LLC and two of its lending subsidiaries, which filed for bankruptcy protection Thursday in New York, are the latest crypto companies to implode as the contagion of digital asset exchange FTX’s collapse spreads.

Genesis halted withdrawals soon after FTX filing for bankruptcy in November. The lending company said then that they faced “abnormal withdrawal requests” that exceeded its liquidity.

Earlier this month, the Securities and Exchange Commission charged Genesis and its former lending partner Gemini Trust with selling unregistered securities. Some users of Gemini’s Earn program, who lent out their crypto through Genesis to earn interests, have been unable to access their funds.

Read: ‘Super lame,’ says Gemini co-founder Tyler Winklevoss about SEC charges

In a Friday filing to the Southern District of New York’s bankruptcy court, Genesis’s interim chief executive Derar Islim attributed the firm’s liquidity crunch partly to a “bank run,” as the implosion of FTX shook investors’ confidence.

Here’s a breakdown of what Genesis said has happened:

  • It said creditors demanded repayment of $827 in loans in November, according to the bankruptcy filing.

  • It said the company recorded a $1.2 billion loss to Three Arrows, a crypto hedge fund that collapsed in June, according to the bankruptcy filing.

  • Parent company Digital Currency Group assumed most of the exposure by exchanging Genesis’s $1.2 billion claim in Three Arrows with a $1.1 billion, 1%, 10-year promissory note, according to the filing.

  • However, Genesis didn’t provide a full accounting of the $5.1 billion in liabilities it claimed in the bankruptcy filing.

“This ‘run on the bank’ following the FTX Entities’ collapse was outsized and severely impacted the Company’s available liquidity,” according to the bankruptcy filing. 

Meanwhile, Genesis’s parent Digital Currency Group was “also impacted by the market turmoil and did not have the liquidity to pay back the Company on certain loans, adding pressure to the Debtors’ balance sheets,” the bankruptcy filing said. 

DCG owed Genesis over $500 million, according to a letter DCG’s Chief Executive Barry Silbert wrote to investors earlier this month.