Crypto lender Gen_Capital confirms hiring investment bank Moelis for help sorting out its liquidity crunch. Aoyon_A reports
Genesis Global Capital confirmed that it has hired investment bank Moelis & Co. to explore how to shore up its crypto-lending business' liquidity and addresses clients' needs, days after halting withdrawals.
"We've begun discussions with potential investors and our largest creditors and borrowers, including Gemini and DCG," Genesis' interim CEO Derar Islim said in a memo sent to customers."We expect to expand these conversations in the coming days," noting that Moelis was hired to fast track these talks.
Genesis had spent much of November scrambling to raise fresh capital or reach a deal with creditors thanks to its exposure to collapsed crypto exchange FTX. The company's institutional lending unit last week was
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