The digital assets financial services firm Genesis may become a victim in the fallout of FTX's collapse, but the cryptocurrency firm currently has "no plans to file bankruptcy."

"We have no plans to file bankruptcy imminently," a Genesis spokesperson wrote in an email message to TechCrunch. "Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors."

As reported recently by the New York Times, Genesis has hired Moelis & Company in order to review various options. But Genesis is still looking to avoid bankruptcy, and those who understand the situation tend to believe that it is still very much possible for Genesis to salvage itself from bankruptcy.

Bloomberg recently released information in a report that stated that Genesis had $2.8 billion worth of loans that have not yet been paid. On November 10, Genesis wrote in a post on Twitter that its company had locked funds in its FTX trading account. According to Genesis, however, the locked funds will not "impact our market-making activities", TechCrunch reports.

BNN Bloomberg has additionally reported that Genesis has spent a great deal of time over the past few days, trying to come up with $1 billion in capital from possible investors. These challenges that Genesis is now facing have greatly impacted billionaire Winklevoss twins Tyler and Cameron, who both are in charge of the Gemini crypto exchange.

Generally speaking, Genesis plays a huge role in the digital asset world. It is very closely watched in order to measure the company's value and strength. In turn, Gemini reacted to Genesis' withdrawal suspension by stopping redemptions from its Earn product.

This type of report has been provided at a time during which the cryptocurrency industry as a whole has come to terms with distress and tentativeness, stemming from the undoing of FTX. FTX was once an enormous crypto exchange that just recently filed for bankruptcy.