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Genesis denies 'imminent' plans to file for bankruptcy

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cointelegraph.com

Cryptocurrency lending company Genesis has refuted speculation that it is planning an "imminent" bankruptcy filing should it fail to cover a $1 billion shortfall caused by the fall of crypto exchange FTX.The firm has reportedly faced difficulties raising money for its lending unit and told investors it would have to file for bankruptcy, according to a Nov.

21 Bloomberg report citing people familiar with the matter.A spokesperson for Genesis told Cointelegraph that there were no plans to file for bankruptcy "imminently" and that it continued to have "constructive" discussions with creditors.

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