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On November 30th, Baili Tianheng announced that its wholly-owned subsidiary, SystImmune, recently received a $250 million milestone payment from BMS. According to the cooperation agreement, the company is also eligible for up to $250 million in near-term contingent payments, as well as additional payments of up to $7.1 billion upon achieving specific development, registration, and sales milestones.On November 30th, Zhuochuang Information announced that it submitted an application to the Hong Kong Stock Exchange on November 28th, 2025, for the issuance of overseas listed shares (H shares) and listing on the Main Board of the Hong Kong Stock Exchange. The application materials for this issuance and listing were also published on the Hong Kong Stock Exchange website on the same day. The issuance and listing are subject to approval, authorization, or filing by relevant government agencies, regulatory bodies, and stock exchanges, and will be implemented only after comprehensive consideration of market conditions and other factors. Therefore, the matter remains subject to uncertainty.On November 30th, Japanese Finance Minister Satsuki Katayama stated on Sunday that the recent sharp fluctuations in the foreign exchange market and the rapid depreciation of the yen were clearly not driven by fundamentals. "Our position is to issue a warning about such events," Katayama said. She reiterated that currency intervention is still possible in response to excessive yen volatility and speculative movements. This aligns with the September Japan-US joint statement, which stated that exchange rates should be determined by the market. On Monday, the market will closely watch for comments from Bank of Japan Governor Kazuo Ueda to see if he signals a possible interest rate hike at the Bank of Japans December meeting.The Kurdistan Regional Governments Electricity Department: Operations at the Khormor oil field have resumed, and the transmission of natural gas to the power plant began at 2:00 AM.On November 30th, three OPEC+ representatives indicated that OPEC+ is likely to maintain its first-quarter 2026 oil production levels at its Sunday meeting, a move that would moderate its efforts to regain market share amid growing market concerns about oversupply. Similar comments were made by other sources this week. The organization had been cutting production for years until April of this year, when eight member countries began increasing output to restore market share.

Crypto lender Genesis says no plans to file bankruptcy imminently

Jimmy Khan

Nov 22, 2022 15:40

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Days after being forced to halt customer redemptions due to the collapse of cryptocurrency exchange FTX, cryptocurrency lender Genesis stated on Monday that it had no immediate intentions to declare bankruptcy.


We don't have any immediate plans to declare bankruptcy. In a statement sent by email to Reuters, a Genesis representative said, "Our goal is to settle the current issue consensually without the necessity for any bankruptcy filing." The company added that it is still in contact with its creditors.



According to a Bloomberg News story quoting sources, Genesis was having trouble finding new money for its lending division and was advising investors that if they did not obtain funding, they might have to file for bankruptcy.


Additionally, according to sources cited by the Wall Street Journal, the company approached cryptocurrency exchange Binance in an effort to secure an investment, but Binance declined out of concern for a potential conflict of interest.


According to the article, Genesis also requested cash assistance from Apollo Global Management, a private equity firm.


Apollo and Binance both declined to comment when Reuters reached out to them for a response to the WSJ report.


The sudden failure of Sam Bankman-cryptocurrency Fried's exchange FTX was cited by Genesis Global Capital as the reason for the suspension of customer redemptions in its lending business last week.


The Wall Street Journal reported on Thursday that Genesis had asked investors for a $1 billion emergency loan before it halted withdrawals.


In the highest-profile crypto meltdown to date, FTX filed for U.S. bankruptcy protection earlier this month after traders withdrew billions from the platform in just three days and rival exchange Binance abandoned a rescue arrangement.