Binance Rejects Investment in Genesis, Fears Conflict of Interest in Part of Business

Nov 22,2022
KingData News: Cryptocurrency firm Genesis Global Capital is still trying to raise cash. The lender has approached crypto exchange Binance for an investment and to bid for its loan book, according to people familiar with the matter. Binance decided not to invest because of concerns that some of Genesis' businesses might create conflicts of interest in the future. In previous news, Genesis, the crypto trading and lending arm of Digital Currency Group (DCG), is struggling to raise emergency funds after facing a liquidity crisis following FTX's bankruptcy filing this month.
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