Lithosphere (LITHO) Blockchain Developer Plans to Extend $830 Million Credit Facility to Genesis, Digital Currency Group (DCG)
Seattle, Washington–(Newsfile Corp. – Jan 19, 2023) – Lithosphere blockchain core developer KaJ Labs is willing to help Digital Currency Group (DCG) with its insolvency issues by extending an $830 million credit facility.
The Lithosphere network aims to eliminate bottlenecks hindering mainstream blockchain technology adoption by providing a robust infrastructure for distributed value transfer and interoperability across multiple blockchain networks.
Genesis, a crypto broker owned by DCG, stopped withdrawals on its platform in November to prevent a liquidity crunch. Shortly after the collapse of the FTX exchange, cryptocurrency investors began withdrawing their money from centralized exchanges, fearing that other companies would follow the same fate.
LITHO.ai
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8833/151545_f34f4d83044599bd_001full.jpg
KaJ Labs understands the detrimental consequences for retail investors and the blockchain community at large. KaJ Labs will outsource all IP acquired and will use all assets acquired to accelerate the launch of the Lithosphere network with unique interoperability features.
The Lithosphere network promises to eradicate bottlenecks in existing blockchain networks. Lithosphere is the first blockchain to use embedded Deep Neural Networks to make smart contracts intelligent, while enabling interoperability across different blockchains.
###
About the Lithosphere
Lithosphere is a next-generation network for decentralized cross-chain applications powered by AI and Deep Learning.
About KaJ Labs
KaJ Labs is a decentralized research organization with a focus on AI and blockchain technology. KaJ Labs is driven by creating innovative products that work for the best around the world.
About Digital Currency Group
Digital Currency Group (DCG) is a venture capital company with a focus on the digital currency market.
About Genesis
Genesis is a crypto trading, lending and asset storage platform, targeting institutional clients and high net worth individuals.
Media contact
Dorothy Marley
Phone: (707)-622-6168
Email: [email protected]
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105
Website: https://kajlabs.org
Website: https://lithosphere.network
To view the source version of this press release, please visit
