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WASHINGTON – Digital asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and it is warning potential investors that it may need to file for Genesis has faced a liquidity issue post FTX, and is looking for 1 billion in capital. Binance had been tapped, but did not comment and did not provide funding. “We have no plans to file Digital asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and the firm has warned potential investors that it may need to file for bankruptcy Without an influx of fresh funding, Genesis is on the brink of bankruptcy according to a new Bloomberg report. People close to the matter have revealed that the “We have no plans to file bankruptcy imminently,” a Genesis spokesperson said in an emailed statement to Bloomberg. “Our goal is to resolve the current situation consensually without the Genesis is having a hard time raising cash for its lending unit, and it is warning potential investors it could possibly file for bankruptcy if it is unable to do so Digital-asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and it’s warning potential investors that it may need to file for bankruptcy if its Genesis is warning potential investors it may need to file for bankruptcy if it's unable to raise funding for its lending unit, Bloomberg reported. The crypto brokerage has

Genesis Warns Bankruptcy Looms Without New Funding: Crypto Crisis Deepens

WASHINGTON – Digital asset brokerage Genesis is facing a critical financial situation, warning potential investors that it may need to file for bankruptcy if it fails to secure fresh capital. The crypto brokerage has been struggling to raise cash for its lending unit, and the firm has warned potential investors that it may need to file for bankruptcy.

Genesis has faced a liquidity issue post-FTX collapse, and is reportedly looking for $1 billion in emergency capital. According to a new Bloomberg report, without an influx of fresh funding, Genesis is on the brink of bankruptcy.

Genesis Bankruptcy Fears Rise After FTX Contagion

The current crisis underscores the continued ripple effects of the FTX debacle. Digital-asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and it\'s warning potential investors that it may need to file for bankruptcy.

Binance was reportedly tapped as a potential investor but did not comment and ultimately did not provide funding to Genesis. This has amplified concerns about the company\'s future viability.

Genesis Statement: "No Imminent Plans" But Future Uncertain

While acknowledging the severity of the situation, a Genesis spokesperson stated, “We have no plans to file bankruptcy imminently.” This statement, emailed to Bloomberg, offered a sliver of hope. “Our goal is to resolve the current situation consensually without the need for bankruptcy proceedings."

Raising Capital Proves Difficult for Genesis

Genesis is having a hard time raising cash for its lending unit, and it is warning potential investors it could possibly file for bankruptcy if it is unable to do so. People close to the matter have revealed the ongoing struggle to secure necessary investment.

Key Takeaways: Genesis Bankruptcy Risks

  • Genesis is warning potential investors it may need to file for bankruptcy if it\'s unable to raise funding for its lending unit, Bloomberg reported.
  • The company needs $1 billion in capital to address its liquidity issues arising after FTX fallout.
  • While stating no immediate bankruptcy plans, the company\'s future hinges on successfully securing new funding.

This is a developing story. We will continue to update this article as more information becomes available.

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