Bloomberg's Sonali Basak joins Caroline Hyde and Ed Ludlow to discuss how digital-asset brokerage Genesis is struggling to raise fresh cash for its lending unit in the wake of the FTX debacle. Plus, the latest in the FTX case.

5th floor

Leading platform FTX has filed for bankruptcy as crypto prices fall below 2017 prices.

Crypto Fallout

Genesis crypto trading firm scrambles to raise cash

Let's start with the FBI's investigation. What do we know about regulators? And what they were doing with stxb worries about him? Worried about the attacks Empire. I would also say they'll remember this is all happening at Bloomberg scoop as that we are discussing here is all happening on the back of a lot of dispute. He read between the Bahamas and the United States and bringing sandbank Winfrey here to questioning for regulators and lawmakers publicly as me, wait to hear what's going to happen with the house Financial Services committee and the Senate Banking Committee who also want to bring in some bacon. Freeze for Testimony as well as his deputies. I would say separately as we think about what's happening with the regulator's Tomorrow, there's going to be a hearing in a Delaware Bankruptcy Court starting 11 a.m. and so you're hearing both of the issues of that's yes, Empire and revel at the same time as we hear about authorities and their concerns Resources between the length between FCS and Alameda let so cool school to further links, let's go to fur the contagion. Let's go to Genesis right now because you'll scoop just before I was coming on at the spot that they may have to file file for bankruptcy V Focus right now, is this is not imminent. And then looking for the source of the funds today, as well as what we had was even talking about you as a daughter is looking at FTS over months. This is just another indication that some of these issues go back, many months that they go back to 3 hours, for example, and whoever had a relationship with them. Remember Genesis is one of those companies that did have links to both three arrows nfts at this point in time, they were a large Predator when you looked at their relationship to three hours. And now let's talk about it in the van about TX for a second, because we know the trading desk at about 175 million dollars, tied up with business separately. Here, come the question. What were the relationships in between Genesis Lending in Genesis trading, Genesis Lending trading in the rest of the digital currency group Empire? How much does that? Actually matter? At the end of the day are some of these questions. Not just a matter of you, no customer money tied up in one exchange or one lender. But is there a broader systemic issues here in the way? Customer funds are being used among do companies, more largely, as it comes to letting in trading activities.

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Crypto Fallout