2022-11-22
A few days after FTX’s collapse, Genesis
Global Trading exchange tends to declare bankruptcy, but they said it has no
plans to file for bankruptcy anytime soon, but it is an option to seek new
funding.
Bankruptcy is a potential alternative to
seeking new funding, according to Bloomberg, citing a person with knowledge of
the matter.
The news brought bitcoin (BTC) down to a two-year low of $15,480, but the price has returned to around $15,720 as usual.
"We have no plans to file bankruptcy
imminently," a Genesis representative told Bloomberg. "Our goal is to
resolve the current situation consensually without the need for any bankruptcy
filing. Genesis continues to have constructive conversations with
creditors."
Genesis and CoinDesk share the same
parent company, Digital Currency Group.
Read more Information: coindesk.com // Bitcoin Magazine
