Genesis and GBTC

The digital asset brokerage firm Genesis, owned by Digital Currency Group, seeks financing. Genesis suspended withdrawals, in addition to seeking an emergency loan due to certain illiquid assets on Genesis’ balance sheet.
Source: Skew, Ycharts

The digital asset brokerage firm Genesis, owned by Digital Currency Group, seeks financing. Genesis suspended withdrawals, in addition to seeking an emergency loan due to certain illiquid assets on Genesis’ balance sheet. Bankruptcy has emerged as a potential outcome if the financing efforts fail. Per recent rumors, Genesis has slashed its raise target from $1bn to $500m, indicating that the firm struggle to shore up its lending units’ liquidity profile.

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