The collapse of the FTX exchange has sent shockwaves across the industry as clients demand their money Crypto brokerage Genesis Global Capital is preparing to file for bankruptcy as early as this week, Bloomberg reported on Wednesday, citing sources familiar with the situation. Financial pressure at the cryptocurrency lending unit of Digital Currency Group (DCG) began to emerge last summer following the collapse of hedge fund Three Arrows Capital. In November, Genesis suspended withdrawals of funds shortly after crypto exchange FTX, in which Genesis invested some $175 million, filed for bankruptcy. The failures ha
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