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Genesis calls in restructuring expert in its fight to avoid bankruptcy

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cointelegraph.com

Cryptocurrency lending firm Genesis Global Capital has reportedly hired a restructuring adviser to explore all possible options that include, but aren’t limited to, a potential bankruptcy.

It is understood that the firm has hired investment bank Moelis & Company to explore options, while people familiar with the situation have stressed that no financial decisions have been made and that it is still possible for the company to avoid a bankruptcy filing, according to a New York Times report on Nov.

22. Interestingly, Moelis & Company was also one of the firms engaged by Voyager Digital after it suspended withdrawals and deposits on Jul.

1 in order to explore “strategic alternatives.”Days later, Voyager Digital filed for Chapter 11 bankruptcy in the Southern District Court of New York as part of a reorganization plan that would eventually “return value to customers.” However, a Genesis spokesperson recently told Cointelegraph that it had no “imminent” plans to file for bankruptcy after a Nov.

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