Gemini, Genesis, and BlockFi Enforce New Restrictions After FTX Collapse

In the latest fallout from FTX’s rapid collapse last week, the lending arm of the crypto investment bank Genesis Global Trading is pausing new loan originations and redemptions, the company announced in a thread of tweets Wednesday.

The lending arm of the bank serves an institutional client base and is known as Genesis Global Capital. At the end of its third quarter, it had more than $2.8 billion in total active loans, according to the company’s website.

“We recognize how challenging this past week has been due to the impact of the FTX news. At Genesis we are entirely focused on doing everything we can to serve our clients and navigate this difficult market environment,” Genesis wrote in a tweet.

Read the source article at cnbc.com