Moses, a digital asset financial services company, has denied that it is on the verge of declaring bankruptcy, just days after halting withdrawals in response to the collapse of crypto exchange FTX.
On Monday (November 21), the cryptocurrency lender stated that it has “no plans” to file for bankruptcy in the near future and will seek a “consensual” resolution to the situation.
An enger E-Mail Erklärung zu Olympia, a Genesis spokesperson said, “We have no plans to file bankruptcy imminently. Our goal is to resolve the current situation consensually without the need for any bankruptcy filing.”
Laut engem Rapport by Bloomberg News, citing sources, Moses was facing difficulty raising new capital for its lending unit and has warned investors that it may file for bankruptcy if additional funding were not secured.
According to reports, the crypto investment bank has spent the past several days attempting to raise at least $1 billion in new capital.
Ausserdeem, de Wall Street Journal confirméiert that Genesis approached crypto exchange Binance in pursuit of an investment, but Binance declined due to a potential conflict of interest down the road.
According to reports, the company also approached private equity firm Apollo Global Management for funding.
Genesis Global Capital, one of the largest crypto lenders, suspended customer withdrawals last week due to a liquidity shortage triggered by a rise in withdrawal requests following the collapse of Sam Bankman-Fried’s FTX.
Gemini’s Stance
Gemini, which operates a crypto lending product in partnership with Genesis, tweeted on Monday that it was continuing to collaborate with the firm to help its consumers redeem funds from its yield-generating “Earn” programme.
Gemini stated on its blog last week that the suspension of Genesis withdrawals had no effect on its other products and services.
1/5 Update fir Verdénge Clienten: mir schaffen weider mat Genesis Global Capital, LLC (Genesis) - dem Prêtpartner vun Earn - a senger Mammegesellschaft Digital Currency Group, Inc. hir Fongen.
- Gemini (@Gemini) November 22, 2022
Och liesen: Ass FTX Crash En Enn vu Krypto? Hei ass wéi e Multi Milliarde Dollar Scam entfalt
Dee presentéierten Inhalt kann d'perséinlech Meenung vum Autor enthalen an ass ënner Zoustand vum Maart. Maacht Är Maartfuerschung ier Dir a Kryptowärungen investéiert. Den Autor oder d'Publikatioun huet keng Verantwortung fir Äre perséinleche finanzielle Verloscht.
Source: https://coingape.com/genesis-says-it-has-no-immediate-plans-to-declare-bankruptcy/