Recent reports say that Genesis Global Capital has hired a restructuring counsel to look into all of the possible outcomes, including but not limited to the possibility of filing for bankruptcy.
According to a report that was published by the New York Times on November 22, it is known that the company has recruited the investment banking firm Moelis & Company to investigate potential courses of action. However, people who are familiar with the situation have emphasized that no financial decisions have been made and that it is still possible for the company to avoid filing for bankruptcy.
It’s interesting to note that Moelis & Company was also one of the companies hired by Voyager Digital after the company temporarily halted withdrawals and deposits on July 1 in order to investigate “alternatives in terms of strategy.”
A few days later, Voyager Digital filed for bankruptcy under Chapter 11 with the Southern District of New York. This…
