Lithosphere (LITHO) Blockchain Developer Plans to Extend $830M Credit Facility to Genesis, Digital Currency Group (DCG)
Seattle, Washington--(Newsfile Corp. - January 19, 2023) - Lithosphere blockchain core developer KaJ Labs is willing to help Digital Currency Group (DCG) with its insolvency issues by extending a credit facility of $830 million.
The Lithosphere network aims to eliminate bottlenecks hindering mainstream blockchain tech adoption by offering a robust infrastructure for distributed value transfer and interoperability across multiple blockchain networks.
Genesis, a crypto broker owned by DCG, halted withdrawals in its platform in November, to prevent a liquidity shortfall. Short after the collapse of the FTX exchange, cryptocurrency investors started withdrawing their funds from centralized exchanges, out of fear of other companies following the same fate.
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KaJ Labs understands the detrimental repercussions for retail investors and the blockchain community at large. KaJ Labs will outsource any IP acquired and will use any assets acquired to expedite the launch of its Lithosphere network with unique interoperability features.
The Lithosphere network promises to eradicate bottlenecks faced in existing blockchain networks. Lithosphere is the first blockchain to utilize embedded Deep Neural Networks to make smart contracts intelligent, while enabling interoperability across diverse blockchains.
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. KaJ Labs is 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.
Genesis is a crypto trading, lending, and asset custody platform, targeting institutional clients and high net worth individuals.
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105
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