WebJan 20, 2024 · Genesis provided loans to crypto hedge funds and over-the-counter firms, but a series of bad bets made last year severely damaged the lender and forced it to halt … WebNov 21, 2024 · A Bloomberg News report, citing sources, had said Genesis was struggling to raise fresh cash for its lending unit. The Wall Street Journal reported, citing sources, that Genesis had...
Crypto lending unit of Genesis files for US bankruptcy
WebNov 20, 2024 · The Genesis situation, coming hot on the heels of the FTX implosion, has caused consternation among the crypto community, with crypto skeptics predicting it could be the next domino to fall... WebNov 22, 2024 · Nov. 22, 2024 Genesis Global Capital, the troubled crypto lender, has hired the investment bank Moelis & Company to explore options including a potential … cumming post office
Genesis Owes Over $3.5B to Top 50 Creditors - coindesk.com
WebNov 17, 2024 · A leading cryptocurrency broker suspended withdrawals at its lending unit yesterday. Genesis Trading cited unprecedented market turmoil sparked by the collapse of FTX. It also cited abnormal ... WebNov 16, 2024 · AD. Genesis reported $12.5 billion active loans outstanding and processed over $130.6 billion loans in 2024. The news comes amid the collapse of crypto exchange FTX, of which Genesis' derivatives trading arm also revealed roughly $175 million in exposure. "Our operating capital and net positions in FTX are not material to our business. WebNov 21, 2024 · FTX was run as a "personal fiefdom" of former CEO Sam Bankman-Fried, attorneys for the collapsed crypto exchange said in its first bankruptcy hearing as they detailed ongoing challenges such as hacks and substantial missing assets. In the highest-profile crypto blowup to date, FTX filed for protection in the United States after traders … cumming post office georgia