On January 19, The Block news, according to people familiar with the matter, Genesis creditors are negotiating the terms of a possible Chapter 11 bankruptcy filing. After the FTX crisis occurred, it spread to institutions such as the encrypted lending platform Genesis and the trading platform Gemini. The parent company DCG Group has always emphasized that the crisis of the subsidiary Gemini has not affected other sub-businesses. However, with the recent suspension of withdrawals by Genesis and layoffs of 30%, DCG has also fallen into a liquidity crisis. At the same time, another subsidiary of DCG, the encrypted media CoinDesk, was also confirmed to be looking for a sale. | Related reading (interface)
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