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Crypto lender Genesis appeals to investors for loan help

Nov 18, 2022
Crypto lender Genesis appeals to investors for loan help
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The Wall Street Journal (WSJ) news publication published data according to which it became known that the Genesis crypto exchange turned to investors for financial support in the amount of $1 billion. At the same time, the management of the exchange offered a share in the business as collateral.

The appeal was made on November 14 before the company announced that it would stop paying due to FTX's bankruptcy and liquidity shortages. A Genesis spokeswoman noted on November 18 that the crypto-lending platform is successfully negotiating with investors to restore work, and the previously published document is no longer relevant. Also, the team is considering various options to deal with the crisis.

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