Genesis Global Trading's creditors have hired restructuring lawyers to help find a way prevent the crypto brokerage from having to file for bankruptcy, Bloomberg News reported on Wednesday, citing people with knowledge of the situation.
On Nov. 16, the lending arm of the crypto investment bank suspended redemptions and new loan originations in the wake of the FTX exchange’s collapse, Interim CEO Derar Islim told customers on a call, as CoinDesk reported at the time.
Genesis and CoinDesk share the same parent company, Digital Currency Group.
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