Report: Genesis Global Trading’s Lending Unit Suspends Withdrawals and New Loan Originations

Report: Genesis Global Trading’s Lending Unit Suspends Withdrawals and New Loan Originations


Following Blockfi, Liquid Global, and Salt Lending halting withdrawals, reports indicate that Genesis Global Trading’s lending unit has halted customer withdrawals. Genesis’ interim chief executive officer Derar Islim said that the company’s trading and custody units were still operational.

DCG-Owned Genesis Halts Lending Unit’s Redemptions and New Loans

On Nov. 16, 2022, Coindesk reporter Nelson Wang detailed that Genesis Global Trading’s current CEO Derar Islim has explained that the company’s lending unit has paused withdrawals. The Digital Currency Group (DCG)-owned firm Genesis Global Trading’s CEO further detailed that the decision only affects the company’s lending side. Amanda Cowie, vice president of communications and marketing at DCG, told Wang the decision was difficult.

Trending: The Brunson Brothers All Play The TRUMPet!

“Today Genesis Global Capital, Genesis’s lending business, made the difficult decision to temporarily

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 • DailyTruthReport.com
Thanks for sharing!
Send this to a friend