TechFlow news — Genesis officially stated that Three Arrows Capital's (3AC) default has negatively impacted the liquidity of its lending division, Genesis Global Capital. Since then, Genesis has been actively reducing on-book risks and strengthening its liquidity position and collateral quality. However, the collapse of FTX triggered unprecedented market turmoil, leading to withdrawal requests far exceeding Genesis’s current available liquidity.
As previously reported, Derar Islaim, interim CEO of cryptocurrency investment bank Genesis Global Trading, said during a Wednesday conference call that its crypto lending arm, Genesis Global Capital, is pausing redemptions and new loan originations.Original link
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