Genesis, a cryptocurrency brokerage in the United States, said it was attempting to avoid bankruptcy after Bloomberg reported on Tuesday that the firm’s creditors were organising with restructuring lawyers to avoid insolvency. According to the report, creditor groups are consulting with law firms Proskauer Rose and Kirkland & Ellis in order to avoid a situation similar to crypto exchange FTX’s rapid descent into bankruptcy. “Our goal is to resolve the current lending situation without the need for any bankruptcy filing,” said a Genesis spokesperson.
