Genesis

Genesis' Lending Rebounds in 2Q; Firm Acknowledges Unsecured Loans

Genesis’ Lending Rebounds in 2Q; Firm Acknowledges Unsecured Loans

Genesis Capital’s lending portfolio rapidly recovered in the second quarter after a sharp decline that resulted from the mid-March bitcoin (BTC) sell-off.  The cryptocurrency lender’s book of active trading loans increased 118% from the end of the first quarter to $1.4 billion at mid-year, the firm disclosed Tuesday. The blistering pace of growth was likely …

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Genesis CEO Details 'Black Thursday' Chaos in Q1 Lending Report

Genesis CEO Details ‘Black Thursday’ Chaos in Q1 Lending Report

Genesis, a trading firm that also lends to institutional cryptocurrency investors, has provided a behind-the-scenes look at how staffers scrambled to meet client demands as the spread of coronavirus sent bitcoin prices swooning last month.  As described in its latest quarterly lending report on Thursday, the peak of the drama came on March 12, when …

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