It started with CZ. It might end with CZ.
The founder of Binance, the world’s largest cryptocurrency exchange, is reported to be interested in acquiring Genesis’ loan book.
Blockworks spoke with a source familiar with the matter who explained that Changpeng ‘CZ’ Zhao has begun reaching out for more information on the state of Genesis’ balance sheet as he considers a potential bid for Genesis’ loan assets. Genesis includes $2.8 billion in active loans in its Q3 2022 report.
Another source noted that any approach is likely to be rebuffed by Genesis’ parent company, Digital Currency Group (DCG), and that a figure north of $2 billion would need to be floated.
Last week, Zhao’s Twitter proclamations instigated the bank run that toppled FTX, which was sporting a huge target on its back following revelations that its balance sheet was risible — and likely fraudulent.
And, as FTX fell, it became clear that the degree of interconnectedness in the crypto industry that caused s
We współpracy z: https://blockworks.co/news/binance-could-acquire-genesis-loan-book/
