Binance CEO CZ Rumored to Acquire Genesis Loan Book

The past week has been the most intense one in crypto history with FTX’s collapse and the turmoil that ensued following the crash. Some are still blaming Binance CEO CZ for triggering the FTX crash, and now rumors are floating around saying CZ might be thinking of acquiring Genesis’ loan book.

According to recent reports, CZ is reportedly seeking further details about Genesis’ balance sheet as he considers placing an offer for the company’s loan assets. In its Q3 2022 report, Genesis lists active loans worth $2.8 billion.

Also Read: Binance Denies Intentionally Crashing Rival FTX in UK Inquiry

A source stated that a sum north of $2 billion would need to be floated and that any attempt by Binance is likely to be rejected by Genesis’ parent company, Digital Currency Group (DCG).

The FTX collapse is impacting many companies, and Genesis is one of them. Genesis’ crypto-lending arm Genesis Global Capital suspended withdrawals citing the FTX crash causing liquidity issues.

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