Genesis is seeking solutions to its financial difficulties, and filing for bankruptcy is one of the options it is considering

ChainCatcher news, the impact of FTX's bankruptcy on Genesis is still ongoing. This crypto lending company is working with investment bank Moelis & Co to seek potential solutions to its financial troubles and is considering filing for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code.

If Genesis ultimately decides to file for bankruptcy, they will join Celsius, Voyager Digital, FTX, and BlockFi, becoming one of the large crypto companies that have filed for bankruptcy in recent months. (source link)