{"id":14700,"date":"2022-11-22T03:48:37","date_gmt":"2022-11-22T03:48:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/genesis-crypto-investment-bank-looking-for-1b-amidst-troubles\/"},"modified":"2022-11-22T03:48:37","modified_gmt":"2022-11-22T03:48:37","slug":"genesis-crypto-investment-bank-looking-for-1b-amidst-troubles","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/genesis-crypto-investment-bank-looking-for-1b-amidst-troubles\/","title":{"rendered":"Genesis Crypto Investment Bank Looking for $1B Amidst Troubles"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Unsettled crypto investment bank Genesis is in negotiations with potential investors about raising at least $1 billion in new capital.<\/p>\n<p>Short after its loan business was forced to cease withdrawals following the <a href=\"https:\/\/igaming.org\/crypto\/5-reasons-why-ftx-bankruptcy-could-have-been-avoided-with-lummis-gillibrand-bill\/\">collapse of crypto exchange FTX<\/a>, Genesis Global Trading has cited bankruptcy as a possible solution as it seeks new financing, according to Bloomberg, citing individuals familiar with the situation.<\/p>\n<p>In addition, according to the Wall Street Journal, which also cited sources, Genesis sought money from <a href=\"https:\/\/igaming.org\/cryptocurrencies\/binance\/\">Binance<\/a> and Apollo Global Management, but Binance rejected to invest due to potential conflicts of interest.<\/p>\n<p>The first revelation caused <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a> (BTC) to drop to a new two-year low of $15,608. However, the price has totally rebounded to where it was prior to the Bloomberg article, trading about $15,843 at time of writing, according to <a href=\"https:\/\/igaming.org\/cryptocurrencies\/coinmarketcap\/\">CoinMarketCap<\/a> data.<\/p>\n<p>According to a Genesis spokesperson in the Bloomberg article, there are <em>\u201cno plans to file bankruptcy imminently.\u201d<\/em><\/p>\n<p><em>\u201cOur goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors,\u201d<\/em> the representative added.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/genesis-crypto-investment-bank-looking-for-1b-amidst-troubles-btc-price-affected\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Unsettled crypto investment bank Genesis is in negotiations with potential investors about raising at least $1 billion in new capital. Short after its loan business was forced to cease withdrawals following the collapse of crypto exchange FTX, Genesis Global Trading has cited bankruptcy as a possible [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":14701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14700"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=14700"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14700\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/14701"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=14700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=14700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=14700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}