According to some media claims, Changpeng Zhao, the CEO of Binance, started investigating the financial situation of Genesis.
By Blockwors he has knowledge of the subject. allegedly According to the information conveyed, Binance’s manager is responsible for Genesis’ active debts. considering the idea of making an offer.
Providing services for institutional investors, Genesis Global Capital, as of the third quarter of 2022 Has $2.8 billion in active debt.
There is no evidence yet that Binance is trying to buy Genesis’ credits. a clear explanation does not exist.
According to what was quoted by Blockworks based on another source, even if Binance makes such an attempt, this offer Genesis’ parent company, Digital Currency Group, may reject it.
Genesis, which was hit by $175 million due to the collapse of FTX, hundreds of millions more because of the bear market had lost.
According to the information learned today, Genesis Global’s lending arm on the platform decision to “temporarily” suspend new transactions took.