Jan 19, 2023

Crypto lender Genesis reportedly preparing for bankruptcy

Posted by in category: cryptocurrencies

This comes as a result of the decline in the cryptocurrency market and the failure of exchanges.

Genesis Global Capital, a cryptocurrency lender, is laying the groundwork for bankruptcy this week. Bloomberg.

The representatives of the crypto lender did not immediately respond to the requests for comment. The sources said the talks would continue and the plans could change anytime.


The crypto lending unit has been in confidential negotiations with multiple creditor groups in the middle of a liquidity crunch. The company recently warned that it could file for bankruptcy if it fails to raise cash.

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