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According to CoinDesk, the lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse, Interim CEO Derar Islim told customers on a call Wednesday.<br />The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022, according to the company’s website.<br />Genesis Trading, which acts as Genesis Global Capital’s broker/dealer, is independently capitalized and operated separately from that lending unit, Islim said. He added that Genesis’ trading and custody services remain fully operational.

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【Genesis’ crypto-lending unit is halting customer withdrawals in wake of FTX collapse】According to CoinDesk, the lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse, Interim CEO Derar Islim told customers on a call Wednesday.
The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022, according to the company’s website.
Genesis Trading, which acts as Genesis Global Capital’s broker/dealer, is independently capitalized and operated separately from that lending unit, Islim said. He added that Genesis’ trading and custody services remain fully operational.

Genesis’ crypto-lending unit is halting customer withdrawals in wake of FTX collapse

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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