Genesis Global Capital Confirms Hiring Investment Bank Moelis, Talks With Potential Investors

Genesis Global Capital confirmed that it has hired investment bank Moelis & Co. to explore how to shore up its crypto-lending business' liquidity and addresses clients' needs, days after halting withdrawals.

"We've begun discussions with potential investors and our largest creditors and borrowers, including Gemini and DCG," Genesis' interim CEO Derar Islim said in a memo sent to customers."We expect to expand these conversations in the coming days," noting that Moelis was hired to fast track these talks.

Genesis had spent much of November scrambling to raise fresh capital or reach a deal with creditors thanks to its exposure to collapsed crypto exchange FTX. The company's institutional lending unit last week was

Gen_Capital Aoyon_A Love how “liquidity crunch” is the new sugar coated crypto phrase for “we’re going under.”

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Genesis Global Capital Has Hired Investment Bank Moelis to Explore Options: New York TimesGenesis Global Capital has hired investment bank Moelis & Company to explore options including a potential bankruptcy, according to The New York Times. By Aoyon_A Aoyon_A It sounds like a bankruptcy is all but guaranteed at this point. Aoyon_A If they file for bankruptcy that would be the catalyst we need for new low. Either way I DCA. Aoyon_A Bye bye cryptomarket
Source: CoinDesk - 🏆 291. / 63 Read more »