Genesis Global Capital hired investment bank Moelis & Co. to explore options including a potential bankruptcy. The New York Times said a final decision hasn’t been made and it is still possible for the company to avoid a bankruptcy filing. Separately, Barry Silbert, founder of Genesis owner DCG, disclosed in a note to shareholders that the company had a roughly $575 million liability to Genesis Global Capital, which is due in May 2023. (DCG is also the parent company of CoinDesk.)

Sam Bankman-Fried, former CEO of FTX, apologized to the crypto exchange’s employees in a new letter sent out over the company’s Slack on Tuesday. He did not address concerns about customers' funds being misappropriated or other recent revelations about the company. Bankman-Fried said he felt "deeply sorry about what happened.” FTX also had its first hearing on Tuesday, letting the company’s lawyers finally get a better sense of just what was going on at the bankrupt crypto exchange.

Singapore’s largest bank by market cap, DBS, completed a fixed income trade on JPMorgan’s blockchain network Onyx. DBS said it is the first Asian bank to use the Onyx network, which is a blockchain-based fixed income trading network, to complete a trade. The Onyx Digital Assets network uses tokens for short-term trading in fixed income markets, enabling investors to lend assets for a period of hours without them leaving their balance sheets.