According to Blockworks reports, sources revealed that Binance CEO Changpeng Zhao intends to acquire Genesis’ loans. Changpeng Zhao has begun gathering more information on the state of Genesis's balance sheet as he considers acquiring Genesis' loans, a person familiar with the matter said. As of the end of the third quarter of 2022, Genesis Global Capital's loans totaled $2.8 billion. Another person familiar with the matter pointed out that any approach may be rejected by DCG, the parent company of Genesis, and Zhao Changpeng may need to invest more than US$2 billion. According to previous news, Genesis Global Trading interim CEO Derar Islim said in a creditor conference call on Wednesday that Genesis Global Capital, its cryptocurrency lending unit, suspended customer redemption and new loan issuance. Genesis is looking for solutions for the lending sector, including finding new sources of liquidity. CZ then stated that Binance’s Earn product does not rely on Genesis or any other third parties.