Poročilo o analizi trga (22. november 2022)

Cryptocurrency lending firm Genesis, which is part of the Digital Currency Group, has said it has no immediate plans to file for bankruptcy after rumors suggested it was planning on doing so should it fail to cover a $1 billion shortfall caused by the collapse of FTX.

Genesis has reportedly faced difficulties raising money for its lending unit and told investors it would have to file for bankruptcy if it could not raise funds. However, the company has said there are no immediate plans to file for bankruptcy. A Genesis spokesperson was quoted saying:

»Ne nameravamo takoj razglasiti stečaja. Naš cilj je sporazumno rešiti trenutno situacijo brez kakršne koli prijave stečaja.”

The lender is said to have approached crypto exchange Binance seeking an investment, with Binance deciding against it fearing a conflict of interest down the line.

Genesis suspended customer redemptions in its lending business earlier this month, citing the sudden failure of FTX. Crypto exchange Gemini, whose earn product relies on Genesis, was also affected.