Creditors have taken action to prevent Genesis bankruptcy! Genesis is in talks with potential lenders and investors, Bloomberg News reports.
Creditors Genesis Global Trading have hired restructuring lawyers to help find a way to prevent the crypto company from filing for bankruptcy, Bloomberg News reported on Wednesday, citing people familiar with the situation. Some of the accountants work at the law firm Proskauer Rose, while others have retained Kirkland & Ellis, the source said.
In November On February 16, the lending arm of the crypto-currency bank suspended redemptions and new loans following the collapse of FTX, acting CEO Derar Islam told clients during a call.