According to the Financial Times, cryptocurrency loan company Genesis owes debtors more than $3 billion.
According to sources cited by the Financial Times (FT), Genesis parent company Digital Currency Group (DCG) is thinking about selling some of the venture assets in its portfolio to acquire cash to help pay off the creditors.
Genesis cut roughly 30% of its personnel earlier this month as it dealt with the consequences from FTX, which had already compelled them to halt customer withdrawals.
According to the FT, DCG, which has a venture capital portfolio worth about $500 million, has had trouble attracting outside investment.
Concerns have been expressed by Genesis creditors on the situation, and this week Gemini co-founder Cameron Winklevoss called for the dismissal of DCG CEO Barry Silbert.
