Genesis In Trouble And FTX Owns Bridge Used By Hackers

https://decrypt.co/115243/genesis-trading-warns-of-possible-bankruptcy-as-post-ftx-fundraising-falters-report

https://www.cnbc.com/2022/11/21/ftx-theft-hackers-start-to-launder-477-million-of-stolen-crypto.html

Genesis is in a liquidity crucnh. Genesis has recently warned it might need to file for bankruptcy. Its holding out hope while they have talks with their reditors.Genesis has stopped their loans as well, causing an echange run. People were frightened and rightfully so. An abnormal withdrawal amount occurred leading to Genesis havinmg a severe liquidity problem. Genesis failed to recieve a 1 billion dollar bailout last week but has asured its customers that its fighting for extensions with its creditors.
FTX hackers apparrently are using a bridge owned by FTX. The hackers have converted 74 million into btc usung a bridge owned by FTX called Renbridge. These types of mixers are used to conceal transactions of crypto currencies. Giving anonymity to its users.
#genesis #ftx #renbridge

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