Loan Digest

Genesis lending unit halts withdrawals in aftermath of FTX collapse

  • 📰 CNBC
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

The lending arm of the crypto investment bank Genesis Global Trading is pausing new loan originations and redemptions.

The lending arm of the bank serves an institutional client base and is known as Genesis Global Capital. At the end of its third quarter, it had more than $2.8 billion in total active loans,"We recognize how challenging this past week has been due to the impact of the FTX news.

The Journal, citing people familiar with the matter, added that BlockFi is also planning to lay off more of its workers as it braces for a possible Chapter 11 filing, though the firm stopped short of saying a majority of its assets are custodied by FTX.Sam Bankman-Fried's cryptocurrency exchange FTX filed for

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

The current encryption industry is 'surnamed Zhao'. The richest dynasty in China was the Song Dynasty. It is also the world of the Zhao family, and the 'Emperor Zhao' leads the encryption industry. Long live my emperor CZ

Good Nature is healing. Self custody Bitcoin is your only escape from the Fiat Ponzi.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto Lender Genesis Suspends Withdrawals After FTX CollapseThe swift demise of FTX created unprecedented turmoil for Genesis, causing the company’s lending arm to be unable to meet all withdrawal requests, the company told clients. highlarious Imagine not being able to withdraw from your bank. $BTC
Source: WSJ - 🏆 98. / 63 Read more »

Genesis halting customer withdrawals after FTX, 3AC collapses: CoinDeskGenesis Interim CEO Derar Islim provided an update on the state of its lending business on a client call, according to CoinDesk. My assumption was, only for those interest earning withdrawals
Source: TheBlock__ - 🏆 464. / 53 Read more »

Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX CollapseJUST IN: The lending arm of GenesisTrading plans to halt customer withdrawals. The unit discussed the matter with its institutional customers in a call on Wednesday morning. By NelWang GenesisTrading NelWang GenesisTrading NelWang Are yoou aware oof what is happening with DEX GenesisTrading NelWang 🫡
Source: CoinDesk - 🏆 291. / 63 Read more »