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Crypto Lender Genesis Facing Potential Bankruptcy in Wake of FTX Collapse

Katie Lin

Summary: Crypto lender Genesis Global is looking at a possible bankruptcy in the wake of the FTX collapse, according to reports by Bloomberg. Genesis has sought funding from Binance and Apollo Global Management but was rejected by Binance on grounds of conflicting interests. Bitcoin plummeted to its two-year low of $15,480 at the release of the ...

Crypto lender Genesis Global is looking at a possible bankruptcy in the wake of the FTX collapse, according to reports by Bloomberg.

Genesis has sought funding from Binance and Apollo Global Management but was rejected by Binance on grounds of conflicting interests.

Bitcoin plummeted to its two-year low of $15,480 at the release of the news, but has since returned to levels before the Bloomberg report.

Author: Katie Lin

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