Hong Kong-based crypto retailer Genesis Block is closing down its over-the-counter (OTC) trading services as the contagion of collapsed crypto exchange FTX spreads further across the industry. Genesis...
Tag: Genesis
FTX market aftershock reportedly causes Genesis Block to cease trading in Hong Kong
In the wake of the recent FTX scandal, another crypto business is feeling the market effects. Genesis Block, a frontrunner for providing cryptocurrency retail services in Hong Kong, announced it will ...
Genesis Sought $1B Bailout From Investors Before Halting Withdrawals: Report
Crypto lender Genesis tried to raise a $1 billion loan from investors to avoid a “liquidity crunch” driven by the fallout from crypto exchange FTX’s collapse, according to a Wall Street Journal report...
How Genesis Trading is Navigating With Current Market Conditions?
Genesis, a global leader in institutional digital asset trading, lending, derivatives, custody and prime brokerage services, suspended customer withdrawals. The crypto lending unit also had tried to g...
Genesis’ Lending Arm Halted Withdrawals After Failing To Raise $1B
Exchange News Genesis said the 3AC debt “negatively impacted” the liquidity of its lending arm. The firm said it will have to halt withdrawals from its lending arm on Wednesday. According to a report ...
Institutional Crypto Lender Genesis Asked for $1,000,000,000 Emergency Loan Before Halting Withdrawals: Report
The Wall Street Journal reports that the institutional crypto lender Genesis asked investors for an emergency loan of $1 billion before announcing that clients would temporarily be unable to take out ...
FTX backed Genesis Block to close trading network
FTX-backed Singapore exchange Genesis Block is all set to close its trading network. As per the report, the Asian top bitcoin ATM network has announced that it has halted trading after the collapse of...
What the Genesis Loan Suspension Teaches Us About Crypto Lending
Genesis Global Trading, one of the largest crypto lenders and institutions, announced November 16 that they would “temporarily suspend redemptions and new loan originations in the lending busine...
Genesis Block HK has more than $50 million stuck on FTX: Source
Genesis Block HK, a crypto over-the-counter (OTC) trading firm based in Hong Kong, has funds stuck in the now-bankrupt crypto exchange FTX, two people with knowledge of the matter told The Block. ...
Genesis sought $1 billion loan before pausing withdrawals
Crypto lender Genesis was seeking a $1 billion emergency loan just before suspending customer withdrawals on Wednesday. Emergency loan Citing a lack of liquidity as the reason, cryptocurrency lending ...
Confidential Doc Reveals Genesis Sought $1B Emergency Loan From Investors: WSJ
Crypto lending firm – Genesis – reportedly sought an emergency loan of $1 billion from investors before notifying its clients of suspending redemptions this week. According to The Wall Street Journal,...
Leaked report exposes Genesis begged investors $1B emergency loan
Genesis, a cryptocurrency lending Company, reportedly asked investors for a $1 billion emergency loan before informing its clients this week that redemptions would be halted. The Wall Street Journal r...
Genesis Sought Emergency $1B Loan Before Trade Suspension
Embattled crypto lender Genesis was reportedly seeking a bailout before it suspended withdrawals this week. Genesis Global Capital has become one of the latest victims of the FTX collapse and crypto c...
Crypto Liquidity Provider B2C2 Offers to Purchase Loans from Genesis
A well-known cryptocurrency market maker, B2C2, is extending a hand to the struggling crypto lending firm Genesis, after the latter company froze customer withdrawals on Wednesday. “B2C2Group wishes ...
Gemini Dollar Lending Rates Spiked as High as 73% on Aave Amid Genesis Freeze
Gemini Dollar lending rates on decentralized finance (DeFi) lending protocol Aave soared as high as 73% on Wednesday after Gemini announced that withdrawals from its Earn product may be delayed due to...
Genesis sought $1B emergency loan but never got it
Crypto lender Genesis sought out an emergency loan of $1 billion from investors in the wake of FTX’s collapse and ensuing bankruptcy but never got the funds it requested, The Wall Street Journal repor...
Genesis sought emergency loan of $1 billion: WSJ
Genesis sought an emergency loan of $1 billion from investors before telling clients it was suspending redemptions in the wake of the collapse of FTX, The Wall Street Journal reported. Genesis s...
Genesis Sought $1B Loan Before Halting Redemptions
Key Takeaways Genesis reportedly sought a $1 billion emergency loan before it suspended withdrawals this week. The Wall Street Journal obtained an internal document to that effect and reported the new...
Gemini Earn Warns Customers of Likely Withdrawal Delays Due to Genesis Lending Pause
Crypto exchange Gemini warned customers today that there may be delays for withdrawals on its Earn product. The delays are due to Genesis Global Capital’s announcement today that it would pause ...
Genesis Teetering on The Edge After FTX Collapse
Join Our Telegram channel to stay up to date on breaking news coverage Genesis, a cryptocurrency brokerage company, has announced it will suspend client withdrawals from its lending unit. According to...
Genesis Suspending Client Withdrawals for Lending Arm Citing ‘FTX Impact’
On Wednesday morning, Genesis announced to clients that it would pause withdrawals from its lending arm, citing “unprecedented market turmoil” due to the now-bankrupt crypto exchange FTX. ...
Tether says it has no exposure to Genesis Global or Gemini Earn
Tether issued a short statement on Nov. 16 saying that it has no exposure to institutional crypto lender Genesis Global or the Gemini Earn program after the announcement that Genesis Global and the Ge...
How The Genesis Withdrawal Halt Impacts The Entire Crypto Market
By now, the news of crypto lender Genesis halting withdrawals has already made the rounds. The implications of this on other crypto platforms are becoming apparent as more time passes, but being so ea...
Genesis Global Suspends Withdrawals Amid Crypto Market Purge
On Nov. 16, Genesis Global Trading announced it would limit activities on the Genesis Trading platform and Gemini Earn application, including withdrawal suspension. The company cited “unprecedented ma...
Gemini Exchange Suffers Temporary Outage, Citing ‘Site Maintenance’
Gemini users temporarily lost access to the exchange Wednesday following an announcement the company was pausing its Earn product, but the outage was apparently due to an unrelated server issue. ...
The Tether stablecoin is not exposed to Genesis
After Genesis Global Capital ceased withdrawals due to FTX exposure, stablecoin Tether clarified that they have absolutely no exposure to Genesis or Gemini Earn. Moreover, they let it be known that t...
Binance CEO Plans To Acquire Genesis Loan Book
The FTX-Alameda crisis has spread around other projects like Genesis Trading, Gemini and blockfi blockfi [email protected] Centralised Exchange . As a result, Genesis has halted their withdrawals whil...
Is Genesis the latest victim of the FTX contagion? Here’s the unsaid truth
Genesis announced it was pausing its withdrawals but other features running A couple of crypto projects have come out to state their exposure or lack of it to Genesis Another blow has been dealt to th...
$2.8B Crypto-Focused Lending Firm Genesis Halts Withdrawals Fearing A FTX-Induced Bank Run ⋆ ZyCrypto
Advertisement     Genesis Global Capital, the crypto lending unit for crypto investment bank Genesis Trading has decided to halt withdrawals in the wake of the FTX col...