Genesis Bankruptcy Jitters Send Bitcoin to Fresh Low

bitcoin has slumped to a new two-year low on a report that Genesis is mulling a bankruptcy filing should talks with investors/creditors not yield results. SteveAlpher reports

in wake of the collapse of crypto exchange FTX, Genesis Global Trading has mentioned bankruptcy as a potential option as it seeks fresh capital, reports Bloomberg citing people with knowledge of the matter

The news sent bitcoin to fresh two-year low of $15,480. The price has bounced back to $15,650 as of press time. "We have no plans to file bankruptcy imminently," a Genesis representative told Bloomberg."Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors."

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