Genesis Demise Marks End of Era for Crypto’s Pseudo-Banks

  • 📰 WSJ
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 63%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Many of the biggest names in crypto lending have failed in the past half-year, highlighting the shaky foundations, risky practices and lack of regulation in the sector

of Genesis Global Capital LLC last week marked the end of an era for crypto lenders that tried to bring the centuries-old business model of banking to the digital-currency space.

 

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

The full faith and backing of nothing is nothing.

Seems like crypto is the epitome of free market capitalism. People voluntarily put $ into something. Maybe they get value back out or not. Maybe the purveyors of a product are scammers. Maybe they aren't. Like Obamacare, you have to pass it to see what's in it.

The only ones that win in crypto are those that started it.

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:

 /  🏆 98. 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.

Genesis bankruptcy filing sparks various community responsesSome believe that no one will be held accountable, while some think the entire crypto lending space is “stupid.”
Source: Cointelegraph - 🏆 562. / 51 Read more »