Another one bites the dust? Crypto lender Genesis has halted withdrawals, citing “unprecedented market turmoil.'
It’s now apparent that the transfer was insufficient to meet consumer withdrawal demands. As for the next steps, Genesis Global stated:
“We have hired the best advisors in the industry to explore all possible options. Next week, we will deliver a plan for the lending business. We’re working tirelessly to identify the best solutions for the lending business, including among other things, sourcing new liquidity.” Genesis Global also claimed that its spot, derivatives trading and custody businesses remain “fully operational.” In its latest quarterly report, the firm stated that it has $2.8 billion worth of active loans. Since the announcement, its parent company, Digital Currency Group, has clarified that it has no impact on its own operations. However, Genesis Global currently serves as theof the popular $6.7-billion Grayscale Bitcoin Investment Trust .
that the event does not affect the firm’s other products and services and that “all customer funds held on the Gemini exchange are held 1:1 and available for withdrawal at any time.”saying that"all Grayscale products remain safe and secure, held in segregated wallets in deep cold storage by our custodian @Coinbase." The company also claimed its digital asset products are unaffected, and that the firm does not borrow nor lend with custodied assets.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Crypto Lender Genesis Suspends Withdrawals: FTX Collapse Created 'Unprecedented Market Turmoil'The crypto firm with some $3 billion in loan volume is the latest to suspend customer withdrawals.
Consulte Mais informação »
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.
Consulte Mais informação »
Crypto lender Ledn says it has no exposure to GenesisThe Canadian crypto lender says it stopped having any relationship with the troubled Genesis crypto lending unit after October.
Consulte Mais informação »
Genesis crypto lending arm suspends customer withdrawals after FTX meltdownThe lending arm of crypto broker Genesis Global Trading says it has suspended its redemptions and new loan originations following the collapse of crypto market FTX.
Consulte Mais informação »
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
Consulte Mais informação »
Crypto broker Genesis suspends loan redemptions; Bankman-Fried, celebrities suedCrypto lender Genesis Global Capital suspended redemptions on Wednesday citing the failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action, as its sudden collapse ripples across the industry.
Consulte Mais informação »