Friday, 24 March, 2023

Major Crypto Brokerage Genesis Suspends Withdrawals In Wake Of FTX Collapse

<p>Following the collapse of FTX, the lending division of cryptocurrency investment bank Genesis Global Trading has temporarily stopped accepting redemptions and initiating new loans, Interim CEO Derar Islim informed customers in a teleconference. According to the company&#39;s website, the division, known as Genesis Global Capital, caters to institutional clients and had $2.8 billion in total active loans at the end of the third quarter of 2022.&nbsp;</p>