Crypto exchange and lender Genesis is seeking a $1 billion emergency loan from investors before suspending redemptions this week, citing a liquidity crunch on certain illiquid assets on its balance sheet, the Wall Street Journal reported. Condition. Genesis Interim CEO Derar Islim said in a conference call on Wednesday that Genesis Global Capital, its cryptocurrency lending unit, is suspending redemptions and new loan originations. Derar Islim said Genesis is looking for solutions for the lending segment, including finding new sources of liquidity. Derar Islim said Genesis' trading and custody operations are still functioning normally. Additionally, Changpeng Zhao is considering acquiring Genesis’ loan assets, according to a report by Blockworks citing sources.