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 get a $1 Billion loan from investors before halting withdrawals.
According to its official website, 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.
An Update from Genesis Trading
Due to the impact of the FTX collapse, Genesis Trading has recognized new challenges. It added that they will navigate the difficult market environment.
In a twitter thread, shared on November 16, 2022, the crypto trading unit added that its spot and derivatives trading and custody businesses remain fully operational. Also, it will provide complete support to its clients who rely during volatile market conditions for managing risk and executing their business strategies.
GenesisTrading emphasized that Genesis Global T
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