Cryptocurrency lending company Genesis has refuted speculation that it is planning an “imminent” bankruptcy filing should it fail to cover a $1 billion shortfall caused by the fall of crypto exchange FTX, Cointelegraph.com reported. The firm has reportedly faced difficulties raising money for its lending unit and told investors it would have to file for bankruptcy, according to a Bloomberg report yesterday, citing people familiar with the matter. On Nov. 16, Genesis announced it had temporarily suspended withdrawals citing “unprecedented market turmoil” after FTX's collapse. The company previously revealed on Nov. 10 it had around $175 million worth of funds stuck in an FTX trading account.
