Days after halting withdrawals due to the collapse of FTX, Genesis Global Trading touted bankruptcy as a viable alternative to seeking new capital, according to a Bloomberg report citing a person with knowledge of cryptocurrencies. this story
The news pushed bitcoin (BTC) down to a two-year low of $15,480, but the price is now back around $15,720.
“We have no plans to file for bankruptcy any time soon,” a Genesis representative told Bloomberg. “Our goal is to resolve the current situation without the need for a bankruptcy filing, and Genesis continues to have constructive conversations with its creditors.”
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