Troubled cryptocurrency lender Genesis Global Capital has hired investment bank Moelis & Company to explore options including a potential bankruptcy, the New York Times reported on Tuesday citing three people familiar with the matter.
The company has not yet made a final decision on bankruptcy and it was still possible to be averted, the NYT added.Earlier this month, crypto exchange FTX filed for US bankruptcy protection in the highest-profile crypto blowup to date, after traders pulled billions from the platform in three days and rival exchange Binance abandoned a rescue deal.
The collapse of FTX has sparked worries of a contagion effect on other firms already reeling from dampened crypto market this year. On Monday, Genesis had asserted it had no plans to file bankruptcy imminently, days after it suspended customer redemptions citing the collapse of FTX.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto lender Genesis says no plans to file bankruptcy imminentlyCryptocurrency lender Genesis said on Monday it has no plans to file for bankruptcy imminently, days after the collapse of crypto exchange FTX forced it to suspend customer redemptions.'We have no plans to file bankruptcy imminently. Our goal is to resolve the current situation consensually without the ne
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Digital Currency Group owes US$575 million to Genesis Trading's crypto lending armVenture capital company Digital Currency Group, which owns Genesis Trading and cryptocurrency asset manager Grayscale, owes US$575 million to Genesis' crypto lending arm, Chief Executive Barry Silbert said in a letter to shareholders on Tuesday afternoon. Loans from Genesis Global Capital, which suspended
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Digital Currency Group owed US$575 million by Genesis Trading's crypto lending armVenture capital company Digital Currency Group, which owns Genesis Trading and cryptocurrency asset manager Grayscale, is owed US$575 million by Genesis' crypto lending arm, CEO Barry Silbert said in a letter to shareholders on Tuesday afternoon. Loans from Genesis Global Capital, which suspended customer
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Malaysia GE: Perak swears in new state Cabinet, new Perlis chief minister is a former teacherPerak will be governed by a PH-BN alliance, like Pahang state. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Morning Briefing: Top stories from The Straits Times on Nov 22Good morning! Here are our top stories to kick-start your day. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »