Crypto firm Genesis says it has ‘no plans to file bankruptcy imminently’

Genesis, a digital assets financial services firm, may be in hot water as it looks to raise fresh capital for its lending unit or potentially face bankruptcy if it can’t, according to a report by Bloomberg.
“We have no plans to file bankruptcy imminently,” a Genesis spokesperson said in an emailed statement to TechCrunch on Monday. “Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors.”
According to The Block, sources shared that Genesis cut its capital raise target 50% from $1

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