On Wednesday, Bloomberg reported that Genesis, a CoinDesk sister firm, was in confidential negotiations with varied creditor teams, with Genesis warning it might search chapter safety if it fails to lift capital. Bitcoin’s value tumbled as little as $20,370, a roughly 5% drop from the day prior to this, after the U.S. Division of Justice foreshadowed an announcement that it was charging Hong Kong-based crypto alternate Bitzlato with laundering $700 million.
