Cryptolending platform Genesis Global Capital, part of the Digital Currency Group (DCG), is preparing to file for bankruptcy. According to informed sources Bloombergthe firm will do so in the coming days. The management of the platform conducts confidential negotiations with various groups of creditors in the face of a liquidity crisis. Bankruptcy plans may be revisited. In the course of work on the restructuring plan, the company exchanged proposals with creditors. Some of them involve receiving a combination of cash and equity from DCG. In November, following the collapse of FTX, Genesis Global Capital requested $1 billion in emergency funding
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Author: NixCoin