FTX collapse taking toll on Genesis

About Genesis

Genesis Global Capital is  the lending arm of crypto investment bank Genesis global trading. Celsius & BlockFi are its top rivals.

How does it work?

Like Celsius, Genesis Global offers loans to customers  with crypto as collateral.

What happend?

FTX collapse resulted surge in withdrawals. Therefore Genesis temporarily halted its withdrawal services to protect liquidity of the platform.

Total Active Loans

Genesis has $2.8 billion in total active loans by the end of third quarter. The company claims to be good with liquidity.

BlockFi is Bankrupt

Checkout Genesis Global top rival BlockFi filing for bankruptcy.

FTX Ukraine Scandal

Checkout what's going on with FTX Ukraine money laundering scandal.

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