barrons.com
If Genesis Trading becomes the latest in a long line of cryptocurrency business failures over the past year, its collapse would have a tangible impact on crypto markets and likely increase volatility in the price of Bitcoin
The trading and lending arm of crypto conglomerate Digital Currency Group, Genesis is preparing to file for bankruptcy within days, The Wall Street Journal reported late Wednesday, citing multiple anonymous sources. The group is in the final stage of paperwork prior to filing for Chapter 11 bankruptcy protection, the report said.