Genesis, a crypto investment company affiliated to Digital Currency Group (DCG), could not find the funding support it had hoped for from the asset management company Apollo after Binance.
According to Bloomberg’s report, asset management company Apollo said that it is unlikely to help Genesis, which recently requested financial assistance from it. The company, which has a liquidity problem due to its funds stranded on the recently bankrupt cryptocurrency exchange FTX, 500 million He said he needed dollars.
The company had turned to Binance and Apollo for funding assistance. Binance entered the agreement due to conflicts of interest. do not welcome According to the latest information, Apollo responded to Genesis’s request for help. they probably won’t respond positively reported.
After the rumors, Genesis stated that they have no plans to file for bankruptcy, and that it had previously requested as an emergency fund. 1 billion dollars fund 500 million dollars had lowered it to its level.