Cryptocurrency lender Genesis Global Trading Inc. is working with the investment bank Moelis & Co. to consider its options, including Chapter 11 bankruptcy, reported the WSJ.
Genesis, which is owned by the Digital Currency Group, halted withdrawals and lending processes in November after the fall of FTX, and this move had an impact on cryptocurrency firms including global crypto asset platform Gemini and its Earn program. Yesterday, Genesis laid off 30% of its employees.
