Wall Street Journal (gated) with the report. Citing "people familiar with the matter".

In brief:

  • crypto lender Genesis Global Trading laid off 30% of its staff
  • is considering filing for bankruptcy
  • layoffs weren’t confined to one department and were across the company
  • has 145 employees left after Thursday’s layoffs
  • Genesis is working with investment bank Moelis & Co. to evaluate its options for the future, including a potential chapter 11 filing, said some of the people
  • A Genesis spokeswoman said that the firm is working with its advisers “to preserve client assets and move the business forward.”


While on crypto developments, Bitcoin update, pretty stable still:

btc 06 January 2023 chart