Crypto ATM Operator Coin Cloud Discussed Equity From Genesis
- Genesis itself is struggling to raise cash for lending unit
- The digital brokerage had lent Coin Cloud about $100 million
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Coin Cloud, which operates automated teller machines that sell crypto currencies, had been seeking additional capital from Genesis, a digital asset brokerage, but it’s unclear if discussions are continuing as its rescuer itself struggles to raise cash.
Genesis had provided an unsecured loan of around $100 million to Coin Cloud, according to people with knowledge of the situation. In the latest discussions, Genesis had considered injecting equity into Coin Cloud, said the people, who asked not to be identified because the matter is private.