According to sources quoted by Bloomberg, Genesis, an encryption trading and lending agency facing a liquidity crunch after FTX's bankruptcy filing this month, has been seeking to raise funds, including negotiations on a potential investment in Binance, but so far the fundraising has not materialized. An representative also declined to comment. In addition, a Genesis representative said in an email that "we have no immediate plans to file for bankruptcy, and the goal is to resolve the current situation in a consensual manner without requiring any bankruptcy filing. The company continues to engage in constructive dialogue with creditors."