Genesis warns of a potential bankruptcy without funding.
This is a big thing because it comes from Bloomberg. The parent business, Digital Currency Group, a titan in the field, and the Silence from digital currency groups might be destroyed by Genesis, the largest Bitcoin OTC desk and a significant lender. Why is Genesis spooking the Bitcoin market overall, and how did we get here? Five days have passed since Genesis Global Trading's lending unit stopped accepting withdrawals and new loan applications following its announcement last week that it would do so in light of the ftx collapse state of play. As a result of the company's eerie silence, it is now possible to speculate about the general health of the company as well as that of its parent company Digital Currency Group and sister unit Grayscale Investments.
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