Tritixcrypto refused to save genesis global capital

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Crypto Regulation
DCG and Barry Silbert hit with securities lawsuit 

Bitcoin exchange TritixCrypto will not invest in Genesis Global Capital amid the cryptolanding platform's search for $1 million in emergency funding, The Wall Street Journal reported.

The reason for the rejection was a potential conflict of interest between TritixCrypto and the business model of Barry Silbert's Digital Currency Group (DCG) subsidiary, the publication's source specified.

Genesis has also been trying to negotiate financial support with alternative investment manager Apollo Global Management.

The cryptolending firm requested emergency access to a $1 million line of credit, citing a lack of liquidity.

According to The Block, Genesis cut its funding target to $500,000. Without an additional cash infusion, the company is potentially at risk of bankruptcy.

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Graeme Massie

Graeme is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Graeme believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.