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