Cryptocurrency lender Genesis told clients it is suspending redemptions and new loan originations following the collapse of crypto exchange FTX
Cryptocurrency lender Genesis told clients that it is suspending redemptions and new loan originations following the collapse of crypto exchange FTX.
of FTX, which filed for bankruptcy last week, created unprecedented turmoil for Genesis, causing the company’s lending arm to be unable to meet all withdrawal requests, the company told clients on a Wednesday call. The company said it would deliver a plan next week for its lending business.
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