Last Updated on November 11, 2022 by Bitfinsider
Genesis announced the announcement in a series of tweets published on November 10, in which the company underlined that the locked funds will not affect their market-making activities.
Genesis has also said that they have no ongoing contact with FTX or its sister business Alameda Research, which FTX CEO Sam Bankman-Fried has stated is “also shutting down trading.”
Genesis asserted that it has “printed record volumes” in the wake of the FTX debacle, after declaring on November 9 that investors come to them to minimize their risks during uncertain market conditions.
Nonetheless, its active loans had decreased by 74.8% during the most recent crypto winter, with its last Q3 report indicating that active loans outstanding amounted to $2.8 billion, compared to $11.1 billion at the same time last year.
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