Genesis’ crypto-lending unit has announced that they are currently halting all customer withdrawals as a result of the FTX collapse.
Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse – Coindesk
„Importantly, this decision has no impact on the business operations of DCG and our other wholly owned subsidiaries”
— Tree of Alpha (@Tree_of_Alpha) November 16, 2022
Genesis have issued a statement on their Twitter explaining the challenges of the past week caused by the FTX debacle.
Genesis’s spot and derivatives trading and custody businesses remain fully operational. We continue to support our clients who rely on us during volatile market conditions to manage their risk and execute on their business strategies.
— Genesis (@GenesisTrading) November 16, 2022
Due to the default of Three Arrows Capital (3AC), Genesis’ liquidity was negatively impacted along with the duration profiles of Genesis’ lending entity, Genesis Global Capital.
“At G
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