TechFlow news, on November 22, Bloomberg reported, citing sources familiar with the matter, that Genesis is struggling to raise cash for its lending business and has warned potential investors that it may file for bankruptcy if it fails to secure funding. Bloomberg said that since FTX filed for bankruptcy protection earlier this month, these companies have faced liquidity crunches and have been trying to raise at least $1 billion, including funds from Binance. Citing a statement from Genesis, Bloomberg noted the company has no "immediate" plans to file for bankruptcy and is actively working to resolve the current situation.
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