investment company i Genesis Global Trading‘s crypto lending platform has temporarily stopped withdrawals.
In the cryptocurrency market, FTX The effects of the collapse continue. It is the second largest stock exchange in the world. of FTX With the collapse, corporate companies began to make losses. In particular, investment asset management companies faced liquidity problems. of FTX It has been suggested that he has ties to hundreds of companies in the crypto industry. Companies, mostly investors, sought legal ways to recover their assets. Finally, Genesis announced that the crypto lender has stopped withdrawals.
Genesis Seeks New Liquidity to Crypto Lending Platform
Genesis Global CapitalKnown as the unit, it serves an institutional client base and as of last quarter 2.8It has a billion dollar active loan.
Genesis Global Trading It was a busy agenda that the credit branch stopped withdrawals. Interim CEO Derar Islimannounced that it has temporarily suspended redemptions and purchases of new loans following the FTX collapse.
Islim, Genesis Global Capitalwith Genesis Global Trading He stated that they are independent of each other. According to the CEO, Genesis Tradingindependently capitalized and operated.
Moreover Islim, Genesis He added that ‘s trading and custody services continue to be fully functional. CEO for the company’s credit lending unit new liquidity sourcehe said he was looking for.
Genesis Global Capital‘s halting withdrawals and starting to look for new sources of liquidity have been attributed to the FTX crash.
Also crypto company Geminiof Earnplatform, Genesisstopped withdrawals because it was affected by the lending platform.
