Genesis, a cryptocurrency (virtual asset) loan company, might go bankrupt, if it fails to find $1 billion in capital. Genesis has been forced to stay up all night to secure at least $1 billion in new funds over the past few days. “If the company fails to save $1 billion, it may have to file for bankruptcy,” Bloomberg said a source as saying. “We have no immediate plans to file for bankruptcy,” a Genesis spokesman argued. “Our goal is to resolve the situation through an agreement without filing for bankruptcy.”
Digital Current Group (DCG) is reportedly in debt of $575 million (about 769.83 billion won) to its subsidiary Genesis Global Capital. Based on the stakeholders report, DCG CEO Berry Silbert said, “DCG has debt that expires in May next year.” CEO Silbert said Genesis hired financial and legal advisors and DCG received investment offers. Binance, a global cryptocurrency exchange, plans to build a platform that can see everything related to NFT through the NFT marketplace. “It will be a platform that can cover everyone from beginners to experts,” said Lisa Hebinance, head of NFT. Then, “We are trying to integrate more platforms and blockchain into Binance Marketplace.”
Bitcoin (BTC) has recovered to the $16,000 level. Cashwood Arc Investment Management, called “Money Tree Sister.” It seems to have purchased a grayscale Bitcoin Trust (GBTC) worth $1.5 million. Therefore, Bitcoin rose 2.4% to $16,100 after hitting a two-year low of $15,480. After Saudi Arabia’s unexpected victory over Argentina, sales of the Saudi-themed NFT collection “The Saudis” surged 387%. Argentina’s fan tokens, on the other hand, fell 21 percent to about $5.44 recently.