| It appears the company is saying that the trading/custody business is not affected, but loan redemptions and originations are. This Bloomberg article has more: > Crypto brokerage Genesis is suspending redemptions and new loan originations at its lending business after facing what it described as “abnormal withdrawal requests” in the aftermath of the collapse of FTX. https://www.bloomberg.com/news/articles/2022-11-16/crypto-br... There's also this interesting bit: > Last week, Genesis said it would get a $140 million equity infusion from its parent company, Barry Silbert’s Digital Currency Group, after disclosing that its derivatives business had $175 million in funds locked in an FTX trading account. The lending business had previously been affected by its exposure to bankrupt crypto hedge fund Three Arrows Capital, to which it had made a $2.4 billion loan. FWIW, Digital Currency Group is the company behind the popular GBTC closed-end fund, which is available to US investor brokerage accounts. This fund has had problems of its own, trading at a relatively large (and growing) discount for some time: https://www.bloomberg.com/news/articles/2022-05-13/grayscale... Oddly enough, the Genesis Trading yield farming page makes it look like nothing unusual is going on. No announcement, no notice, no nothing. Situation normal. https://genesistrading.com/services/yield-services |