The crypto lender Genesis Global Capital is in danger of going bankrupt. The crypto market is waiting in fear for another dump.

A report from Bloomberg on November 22 states that Genesis has $2.8 billion in unpaid debts on its balance sheet, with over 30% of those loans going to “related parties” such as its parent business Digital Currency Group and its affiliate and lending unit, Genesis Global Trading.

A closeup on the potential of a digital fiat currency in Vietnam

According to Finder’s most recent crypto research, released in August 2021, Vietnam led the way in crypto adoption, with 42% of those polled saying they had purchased cryptocurrency and 20% saying they had invested in Bitcoin. This is the greatest ratio among all the countries that took part in the poll. However, cryptocurrency, is still not legally recognized in Vietnam.