Lithosphere (LITHO) Developer KaJ Labs Announces Letter of Intent to Acquire Genesis Global Capital, DCG Assets For $1.5 Billion
Seattle, Washington - January 23, 2023 (Newsfile Corp.) (Investorideas.com Newswire) KaJ Labs announced that it has issued a Letter of Intent (LOI) to acquire the assets of the distressed crypto firm Genesis Global Capital for $1.5 billion.
KaJ Labs seeks to purchase the remaining qualified assets of Genesis Global Capital LLC. Genesis Global Capital, also known as Genesis Global Trading, is a cryptocurrency brokerage for institutional investors. Genesis is a subsidiary of Digital Currency Group (DCG). Genesis filed for Chapter 11 bankruptcy on January 19, 2023 to request court protection to reorganize its cryptocurrency lending businesses.
KaJ Labs is the core team building the novel Lithosphere AI blockchain. The Lithosphere network promises to eradicate bottlenecks faced in existing blockchain networks by being the first blockchain to utilize embedded Deep Neural Networks to make smart contracts intelligent while enabling interoperability across diverse blockchains.
Lithosphere is the future infrastructure for distributed value transfer and will offer interoperability across multiple blockchain networks. It addresses bottlenecks hindering mainstream Web3 adoption.
About Lithosphere
Lithosphere is a next-generation network for cross-chain decentralized applications powered by AI and Deep Learning.
About KaJ Labs
KaJ Labs is a decentralized research organization focusing on AI and blockchain technology. We're driven to create innovative products that work for the greater good around the globe.
About Digital Currency Group
Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market.
About Genesis
Genesis is a crypto trading, lending, and asset custody platform, targeting institutional clients and high net worth individuals.
Media Contact
Dorothy Marley
Phone: (707)-622-6168
Email: media@kajlabs.com
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105
Website: https://kajlabs.org
Website: https://lithosphere.network
More Info:
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
That's all it takes to get an article published on Investor Ideas - Learn More
