Crypto broker Genesis told clients in a new update that it needs more time to come up with a solution for the troubles at its lending unit.
“While we are committed to moving as quickly as possible, this is a very complex process that will take some additional time. We believe we can arrive at a solution,” interim Chief Executive Officer Derar Islim wrote in a letter seen by Bloomberg News. “We will continue to give you updates on meaningful developments, including any updates on timing.”
