The company has denied rumors of impending bankruptcy.
(Photo: Bloomberg)
Frankfurt The collapse of crypto exchange FTX is causing aftershocks that are shaking the entire industry. According to several media reports, the cryptocurrency broker and lender Genesis has to defend itself against speculation about a possible insolvency.
“We have no plans to file for bankruptcy anytime soon. Our goal is to resolve the current situation amicably without having to file for bankruptcy,” a spokesman told Reuters. The company will continue to hold talks with creditors.
Bloomberg news agency previously reported that Genesis was struggling to raise fresh money for its lending division and had warned investors that the company could face bankruptcy if funding was not forthcoming.
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