Luno's sister company Genesis files for bankruptcy as crypto crisis spreads | Business

Redemptions and loan originations at the company remain suspended and claims will be handled in bankruptcy court, according to the statement.

In January, Genesis laid off roughly 30% of its staff in the latest round of job cuts. Interim Chief Derar Islim earlier sent a letter to clients saying it needed “additional time” to come up with a solution for a liquidity crunch at the lending unit. Digital-asset prices weakened a little as crypto markets absorbed the the developments. Bitcoin was little changed at $21,000 as of 2:07 p.m. in Tokyo after earlier advancing as much as 1.3%. The token is up 28% for 2023 so far, paring some of last year’s deep rout.In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Individuals implicated in State Capture submit review requests - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The State Capture Commission says at least 11 people have submitted requests to review its report, with former spy chief Arthur Fraser filing his earlier on Wednesday. Our president does it everyday so let them They are learning from Mr RANKO, so let them review this nonsense They shouldn’t bother, they will lose with punitive costs
Source: SABCNews - 🏆 37. / 51 Read more »