Days after its lending unit was forced to halt withdrawals in wake of the collapse of crypto exchange FTX, Genesis Global Trading has mentioned bankruptcy as a potential option as it seeks fresh capital, reports Bloomberg.
The news sent bitcoin (BTC) to fresh two-year lows, touching $15,500. The price has bounced to $15,650 as of press time.
“We have no plans to file bankruptcy imminently,” a Genesis representative told Bloomberg. “Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors.”
Genesis and CoinDesk share the same parent company, Digital Currency Group.
