It is reported that #Genesis may submit a bankruptcy application as early as this week, and they are currently negotiating secretly with their creditors.

Since #Gemini accused Genesis of owing it a debt of US$900 million at the end of November, rumors of its collapse have continued. The latest news is that Genesis already owes creditors as much as US$3 billion.

Although he has the world's largest crypto venture capital group #DCG behind him, in the bear market, it is estimated that it is unable to save Genesis, and it has just announced the suspension of dividends for this quarter to save cash.

What everyone may be most concerned about now is that if Genesis goes bankrupt, will #GBTC , a subsidiary of Grayscale Trust, which is also part of the DCG Group, also face liquidation? If this is the case, it will definitely be a shock to the market💥