Genesis Lending Halts Crypto Withdrawals – Bitcoin Magazine

Cryptocurrency lender Genesis Global Capital has paused withdrawals and loan applications following the collapse of FTX Exchange, per a tweet from Genesis Trading.

Genesis Global Capital boasts an institutional clientele with over $2.8 billion in active loans.

Genesis Trading operates as the broker arm of Genesis Capital and is independently operated and capitalized from the broader lending institution, interim CEO Derar Islim said. However, Islim did state that trading operations and custody services currently remain operational.

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