Embattled crypto brokerage Genesis is pulling out all the stops and exploring all options it has to keep the bankruptcy lawyers at bay.
Creditors are joining forces with liquidation and restructuring lawyers in an effort to keep the firm afloat. The crypto lending platform suspended withdrawals on the platform on Nov. 16, as reported by BeInCrypto.
According to a Nov. 30 Bloomberg report citing anonymous sources, creditors are seeking advice from different legal firms. The creditor groups are seeking to avoid the situation that sank FTX International earlier this month.
“Our goal is to resolve the current situation in the lending business without the need for any bankruptcy filing,” said one spokesperson.
