Crypto broker Genesis had sought $1B emergency loan before pausing withdrawals - report

Nov. 17, 2022 3:39 PM ETBy: Max Gottlich, SA News Editor6 Comments

processor chip, tech environment, blockchain concept


Prior to its sudden move in suspending redemptions and new loan originations in the face of FTX's meltdown, crypto brokerage Genesis was reportedly seeking an emergency loan amounting to $1B from investors.

Specifically, Genesis was suffering from a liquidity issue (retail-driven

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