TechFlow news — Genesis, the cryptocurrency lending firm, has cut its emergency fundraising target from $1 billion to $500 million. Sources say DCG is unwilling to sell parts of its venture portfolio and does not intend to divest Grayscale, and is now working with bankers from Ducerne Partners LLC. According to other sources, Binance has decided against investing due to concerns that some of Genesis’s operations could create potential conflicts of interest in the future.
Earlier reports indicated that Genesis had held talks with Binance over a potential investment and currently has no plans to file for bankruptcy.Original link
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