The exchange said to users in a thread on Twitter:
Following reports that Genesis, its lending partner, had stopped withdrawals, the exchange said on November 16 that it would be unable to satisfy client redemptions within the service-level agreement’s time constraint of five days.
Genesis has stated that it is looking for an urgent loan of $1 billion. The chance to invest in the troubled cryptocurrency lender was rejected by Binance. Additionally, Genesis has attested that the company can continue operating without declaring bankruptcy.
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