Genesis cryptocurrency lending division suspends redemptions and new loan issuance
ChainCatcher news, according to CoinDesk, the interim CEO of cryptocurrency investment bank Genesis Global Trading, Derar Islim, stated during a conference call on Wednesday that its cryptocurrency lending division, Genesis Global Capital, has suspended redemptions and new loan issuances. Derar Islim mentioned that Genesis is seeking solutions for the lending division, including looking for new sources of liquidity. Additionally, Derar Islim stated that Genesis's trading and custody operations are still functioning normally.
As of the end of the third quarter of 2022, the total loans of Genesis Global Capital amounted to $2.8 billion. (source link)
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