Crypto company, Genesis may soon declare bankruptcy.

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FTX’s downfall has caused a deep shake in the ‘Crypto world’ and has other companies who were tied to it whether formally or the lack of trust amongst consumers. Genesis a crypto exchange company has warned ahead of its possibility to go bankrupt.

The United States prosecutors opened probe of FTX months before its collapse as they saw trouble ahead but Sam Bankman Fried has left for his home in the Bahamas in which his girlfriend possibly had also fled to. The United States are in talks with the Bahamas government to allow the United States bring him in for questioning for the regulators.

Genesis may file for bankruptcy but they are still looking for other means to fund thier company, they have currently paused withdrawals so that customers can’t perform such transactions at the moment.

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