Genesis Global Capital Hires Restructuring Advisors, Bankruptcy Not Ruled Out

• Genesis Global Capital’s crypto lending arm paused withdrawals and new loans last week as the company faced extreme market conditions post FTX’s collapse.
• According to the New York Times, the company has hired Moelis & Co to explore future options for the business including a potential bankruptcy.
• As per recent data, Genesis Global Capital reported $2.8B in active loans for Q3 2022.
• Genesis is one among many suffering from the collapse of FTX and its cascading effects on the crypto industry.

This is a developing story and will be updated.

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