Chinese crypto entrepreneur Justin Sun In a statement to Reuters, Genesis announced that it wanted to buy assets belonging to its parent company Digital Currency Group (DCG). Sun also underlined that he is ready to spend 1 billion for this purchase.
Koinfinans.com as we reported Genesis In November, it stopped its customers’ withdrawals. Despite all the problems, the company was hesitant to file for bankruptcy. The company owes more than $3 billion to creditors, according to experts closely following the issue.
Gensis’ roof company Digital Currency Grouphas more than 160 companies in its portfolio. In terms of this nature, the company cryptocurrency It is possible to say that it is a very important player for the industry. According to a report from the Financial Times, the company wants to reduce its portfolio to cover debts.
In an interview with Reuters, Sun stated that he was willing to spend up to $1 billion “based on his valuations” to buy some of DCG’s assets. However, he did not give details about which assets he wanted to buy.
Digital Currency Group, on the other hand, declined to comment on the subject.
Justin Sun Could Solve The Genesis Problem!
Justin sun, founder of TRON blockchain, is also a consultant to Huobi. Huobi was on the agenda by announcing a 20% reduction in workers last week. As a matter of fact, Sun’s Genesis or DCG move may trigger a relaxation in the crypto money market.
As a matter of fact, although such acquisitions and deals are frequently reported in the press, the rate of realization is not very high. Although Binance, which wanted to buy the assets of FTX, which collapsed in November, was on the agenda, these plans were not implemented.