Genesis is currently in a really bad spot, halting withdrawals from their lending arm in the wake of the FTX collapse and warning of bankruptcy shortly afterwards. The company owes $900 million to customers of Gemini, and Gemini's CEO recently sent an open letter to Genesis's parent company demanding the funds be returned.
Genesis lays off another 30% of staff
After a round of layoffs in August that impacted 20% of their employees, Genesis is laying off another 30% of their employees.