Genesis, a crypto investment company affiliated with the Digital Currency Group, requested an emergency loan of $ 1 billion before suspending its operations, but could not receive this fund.
After FTX bankruptcy new loan issuance and redemption transactions It turned out that Genesis, which announced its temporary suspension, was seeking funding before the suspension announcement. According to The Wall Street Journal, investors 1 billion dollars Genesis, which made a loan request, until monday He was unable to obtain the requested amount.
It was realized that Genesis had to make a statement that it had suspended its operations after the fund could not be obtained. The latest statement by the CEO of Genesis is that the company is looking for a crypto lending platform, including finding a new source of liquidity. searching for solutions expressed.
On the other hand, according to the allegations, the CEO of Binance Changpeng Zhaobegan researching Genesis’ financial situation. As part of a possible bailout, Binance will remove active debt. $2.8 billion may consider paying off Genesis’ debts and owning a substantial stake in the company.