Fears are swirling that $10 billion bitcoin and crypto giant Digital Currency Group (DCG) could be in trouble...
... [+]This week, Genesis, one of the biggest crypto lenders that makes up part of DCG's sprawling crypto empire, suspended customer redemptions in its lending business, blaming the sudden FTX meltdown. DCG, last year
"There has been a target on Genesis's back for days," Joseph Edwards, an investment partner at Securitize Capital,, adding it's"a signal of worse outcomes" for the crypto market due to Genesis' close links with brokers, family offices and money managers. "Genesis had been exploring all possible options amidst the liquidity crunch resulting from the FTX news," a company spokesperson told the."After reviewing a number of options, we made the difficult decision to temporarily suspend redemptions and new loan originations in the lending business so that we can identify the best solution and outcome possible for clients."
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