Genesis Has Hired Restructuring Advisors to Explore All Possible Options

Genesis is understood to have hired investment bank Moelis & Company to explore all options. And those familiar with the situation stress that no financial decisions have been made and that the company may still avoid filing for bankruptcy. In addition, Genesis is seeking approximately $500 million to $1 billion in funding from investors to close the funding gap that will eventually arise from the "unprecedented market turmoil" and the collapse of FTX.

Previously, Voyager Digital also hired Moelis & Company after suspending withdrawals and deposits on July 1.