Cointelegraph reports that Genesis, a crypto lending firm, has denied rumors of bankruptcy. Coincu reported that Genesis had difficulties acquiring capital for its lending section and informed investors that it would likely file for bankruptcy. Cointelegraph was informed by a representative of Genesis that there were no imminent plans to declare bankruptcy.
Cointelegraph reports that Genesis, a crypto-lending company, has denied rumors of a bankruptcy filing.
“We don’t plan to file bankruptcy soon. Our goal is to resolve the present situation consensually, without the need to file bankruptcy. Genesis continues to have constructive discussions with creditors.”
Sources cited by The Wall Street Journal in a November 21 report claimed that Binance had walked out of the Genesis deal because the business could have created a Conflict of Interest. The company was dealing with unusual withdrawal requests last week that were greater than their liquidity. This has made many of the current problems for the lender worse. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewsTags: bankruptcyBinanceFTXGenesis