Genesis Trading reveals $175M of funds are locked in FTX

Genesis Trading reveals $175M of funds are locked in FTX

In what it hails as an effort to be transparent, Digital Currency Group’s market maker and lending subsidiary, Genesis Trading, revealed that its derivatives business has around $175 million worth of funds locked away in an FTX trading account.

Genesis shared the news in a Nov. 10 tweet thread, in which the firm clarified that the locked funds would “not impact our market-making activities.”

As part of our goal in providing transparency around this week’s market events, the Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account. This does not impact our market-making activities.

— Genesis (@GenesisTrading) November 10, 2022

Trending: Radio Host Who Attacked ‘Anti-Vaxxers’ to Take Hiatus Until 2023 After Heart Attack

Genesis also stated that they have no ongoing relationship with FTX or its sister company Alameda Research, the latter of which FTX CEO Sam

Continue reading


Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report •
Thanks for sharing!
Send this to a friend