Crypto lender Genesis Global Capital has hired investment bank Moelis & Company to explore options, including bankruptcy, The New York Times has reported citing its own sources.
According to them, the final decision has not yet been made, and the company still has the opportunity to avoid filing for insolvency.
The investment bank advised in July the crypto broker Voyager Digital to file for bankruptcy.
Genesis CEO Derar Islim has said in a note to clients noting Moelis’ role in this process:
“We have begun negotiations with potential investors and our largest lenders and borrowers, including Gemini and DCG. In the coming days, we intend to intensify this communication.”
Other advisors to the crypto lender include Alvarez & Marsal, an audit firm, and Cleary Gottlieb, a law firm.