Genesis Global Trading Crypto

Genesis Global Trading Crypto | Capital Withdrawal Genesis

Genesis Global Trading Crypto | Capital Withdrawal Genesis, One of crypto’s largest lending platforms has officially pause withdrawals this is a platform which is a sister company to grayscale one of the biggest Bitcoin trusts in the whole of crypto.

Global Trading Crypto Genesis

They hold 2.8 billion dollars of active loans and could they be the latest Fallout from FTX. After we heard blockfi also pause withdrawals this is getting hectic guys crypto is down another three percent today on bitcoin and as you can see fears continue to spread we’re gonna break down exactly. What this means, who else could be effective and could Gemini yes exchange Gemini owned by the Winklevoss twins be the next in line to collapse as well.

Recently with the FTX Saga we know that this model has been failing for a very long time. You saw what happened with Celsius you saw what happened with voyager you saw that the SEC stopped coinbase from doing an earned program and now we’re seeing what is materializing so this is not all to blame on FTX yes what the cattle is here but as you can see they’re practicing shoddy risk management and that’s
one of the issues we’re seeing with the likes of the companies collapsing right now.

Whats about Genesis

Here at what’s going with Genesis they had 2.8 billion dollars in total active loans at the end of the third quarter this year they said today. ‘Genesis Global Capital’ Genesis Lending business made the difficult decision to temporarily suspend redemptions and new loan originations the decision was made in response to the extreme Market dislocation and lots of Industry confidence caused by the FTX implosion this makes sense right. When things happen like the FTX even those people will hanging on on these lending programs would have pulled their money out they would have seen what happened with blockfy heard about the rumors around nexo and people are rightfully so taking their money off and putting it
into Cold Storage.

Right now now the market is moving very quickly but we need to understand that dcg this company here is the parent company of both Genesis and also grayscale grayscale owners Bitcoins uh is the grayscale Bitcoin trust right you can buy institutions buy into this because they cannot buy the spot Bitcoin.

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