– Troubled cryptocurrency lender Genesis World Capital has employed funding financial institution Moelis & Firm to discover choices together with a possible chapter, the New York Instances reported on Tuesday citing three individuals aware of the matter.
The corporate has not but made a closing resolution on chapter and it was nonetheless potential to be averted, the NYT added.
Genesis didn't instantly reply to a Reuters request for touch upon the matter.
Earlier this month, crypto trade FTX filed for U.S. chapter safety within the highest-profile crypto blowup to this point, after merchants pulled billions from the platform in three days and rival trade Binance deserted a rescue deal.
The collapse of FTX has sparked worries of a contagion impact on different corporations already reeling from dampened crypto market this yr.
On Monday, Genesis had asserted it had no plans to file chapter imminently, days after it suspended buyer redemptions citing the collapse of FTX.
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