It’s just been revealed that the crypto broker Genesis is about to come back from bankruptcy. Check out the latest reports about the issue below.
Crypto broker Genesis to come back from bankruptcy
According to the latest reports that have been just revealed by the online ebullition the Daily Hodl, it seems that troubled crypto lender Genesis is reportedly confident that it could emerge from its bankruptcy proceedings in just a few months.
According to a new report by Reuters, Sean O’Neal, an attorney for Genesis, made sure to explain the fact that the embattled crypto firm could resolve matters with its creditors as soon as this week and potentially restart its operations by late May.
Reuters says that Genesis, a subsidiary of billionaire Barry Silbert’s Digital Currency Group, “intends to auction off various assets with the goal of exiting bankruptcy by May 19th.”
According to the report, “Genesis has been in negotiation with its creditors for two months now and is open to mediation if it becomes necessary. Brian Rosen, a lawyer representing Genesis’ creditors, says that the firm and its moneylenders are “getting closer” to reaching an agreement.”
The firm also made sure to state the fact that it’s planning on holding an auction to sell a portion of its assets.
A few days ago, we revealed that there are a lot of optimistic predicitons about the price of Bitcoin these days. Check out the latest ones below.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $23,096.
Bitcoin price prediction
Bitcoin (BTC) is on the cusp of regaining $21,000. This is happening as charges are filed against a little-known crypto exchange platform and rumors swirl around embattled crypto lender Genesis.
In a new press release, the U.S. Department of Justice (DOJ) is announcing charges against Hong Kong-based crypto exchange Bitzlato and its founder, Russian national Anatoly Legkodymov.
Make sure to check out our previous article in order to learn all the available data.
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