FTX Collapse: Genesis Denies Being on the Verge of Bankruptcy

Published by
The Street

By Luc Olinga Bloomberg News says the brokerage, which was exposed to FTX, warned investors it could file for bankruptcy if it can’t raise fresh cash. Blur surrounds the future of crypto lender Genesis. Bloomberg News reports that the firm has warned investors that it might file for bankruptcy if it does not quickly find fresh cash. Genesis has spent the past several days seeking at least $1 billion in fresh capital, the news outlet reports, citing anonymous sources. This warning stems from the firm’s exposure to the cryptocurrency exchange FTX, which has filed under the bankruptcy laws. But a…

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