Crypto Lender Genesis may Declare for Bankruptcy this Week

• Brandon Davis
• January 19, 2023
• Crypto, News
• 0 Comments

• According to insiders, Genesis Global Capital is preparing to file for bankruptcy by the end of this week.

• It recently warned that it might declare bankruptcy if it cannot obtain funds.

• Genesis was still in talks with creditors, and its intentions might alter, according to the report.

• Digital Currency Group, Genesis’ parent business, has also been grappling with a liquidity crisis.

• Genesis ceased redemptions in November amid FTX’s collapse, warning at the time that bankruptcy was likely unless it could obtain new capital.

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