1# Crypto lender Genesis is having financial difficulty and trying to raise $1 Billion in capital from potential investors. They approached different investors for that, but unfortunately, they could not raise the capital that they need. Genesis grew quickly and becomes popular in crypto. Now the situation is changing. After the collapse of FTX, Genesis is going through a hard time. It is revealed that it lost $175 million in FTX. They will not get much from the FTX and Alameda Research any time soon. What we know about Genesis so far, maybe this is nothing compared to what we are going to know in the future. Is Genesis the next FTX? It is clear that they are facing big problems and trying to resolve that. The way FTX used to say that everything is fine, no worries, is Genesis going in the same direction?
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