Is Genesis Global Capital on the verge of bankruptcy? – Katoch Tubes

FTX collapse taking toll on Genesis

About Genesis

Genesis Global Capital is  the lending arm of crypto investment bank Genesis global trading. Celsius & BlockFi are its top rivals.

How does it work?

Like Celsius, Genesis Global offers loans to customers  with crypto as collateral.

What happend?

FTX collapse resulted surge in withdrawals. Therefore Genesis temporarily halted its withdrawal services to protect liquidity of the platform.

Total Active Loans

Genesis has $2.8 billion in total active loans by the end of third quarter. The company claims to be good with liquidity.

Is Genesis Bankrupt?

Genesis stated that it won't immediately file for bankruptcy but require funding to support its operations.

Seeking Investment

Genesis approached Binance & Apollo Global Management seeking investment. Binance  has declined the proposal.

BlockFi is Bankrupt

Checkout Genesis Global top rival BlockFi filing for bankruptcy.

Learn more

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