Genesis Global Capital, which is Genesis Trading’s lending business, stopped redemptions. After that, the company asked for a $1 billion loan right away. The Wall Street Journal recently said that Genesis asked Binance for an investment.
Binance, on the other hand, turned down the request. “Binance decided not to invest because they were afraid that some of Genesis’s business could lead to a conflict of interest in the future,” said one of the people who knew about the situation.
