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

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

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