Genesis (Company)

From CryptoWiki



"The company was battered by the fall of Three Arrows Capital and FTX and is under fire from the SEC. The company, which is a subsidiary of Digital Currency Group (DCG), says that it has more than $150 million in cash on hand, which it describes as "ample liquidity" to fund operations during the restructuring process."

November 8: "No material net credit exposure"

November 9: We lost $7M

November 10: Okay, we have $175M locked in FTX

November 16: Sorry, no withdrawals or new loans

November 17: Okay, we need $1BN

November 21: We'll go bankrupt without the money

  • Genesis Global Capital, the lending arm of leading digital asset brokerage Genesis Trading, announced (16-11-2022) that it has halted withdrawals and new loans due to “unprecedented market turmoil” created by FTX’s collapse. Seemed to have had $175M locked in FTX.
  • Has a BitLicence since 2018.


Team, Partners

Creditors of Genesis

  1. Gemini: $765m
  2. Mirana: $151m (120M of it turned out to be collateralized positions that got already liquidated)
  3. Moonalpha (Babel): $150m
  4. Coincident Cap (Mex/Finex Leaderboarders): $110m
  5. Decentraland: $55m
  6. VanEck: $53m
  7. Abra: $30m
  8. Cumberland: $18m
  9. Stellar Foundation: $13m