On Aug. 2, bankrupt crypto lending firm Genesis announced the completion of its Chapter 11 restructuring plan.
28 days ago 15 Oct, Vue Labs, $ 6.00M, Pre-Seed ; 1 year(s) ago 11 Aug 2023, Affine, $ 7.00M, Undisclosed ; 2 year(s) ago 13 Oct 2022, Pine Street Labs, $ 6.00M, Seed
Genesis distributed $2.18b worth of crypto to 232,000 users enrolled in Gemini Earn, an interest-accruing lending program.
The lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse, Interim CEO Derar Islim told customers on a call Wednesday. Islim told the participants on the call that Genesis is exploring solutions for the lending unit, including finding a source of fresh liquidity. He said Genesis intends to detail its plan to clients next week. The announcement was noted by Gemini, the crypto exchange and custod...
"We believe now is a great time to offer an institutional-focused lending service because it... use to scale their digital currency-centric businesses," Genesis Capital said in a press release.
Genesis’ crypto lending arm came back strong in 2Q after a rocky 1Q. Separately, executives acknowledged the firm makes some uncollateralized loans.
In an email sent to clients Wednesday, Genesis announced it would be halting XRP trading and lending in the new year.
Genesis' lending business offers institutional lending services to clients who want to borrow or lend digital assets. Genesis filed for Chapter 11 bankruptcy on January 19, 2023, to request...
in lending to Genesis to earn some extra interest their holdings. Our minimum borrow size is $250k worth of LTC, so if you're a large holder that plans on holding for a while and would like...
Decentraland has not one but three of the executives and founders listed among companies with large claims against Genesis's crypto lending unit.