Crypto brokerage Genesis is suspending redemptions at its lending business after facing what it described as “abnormal withdrawal requests” in the aftermath of the collapse of FTX. Genesis’ lenders include Gemini Trust Co., the cryptocurrency platform ...
Crypto brokerage Genesis is working with financial and legal advisers to explore options as it halts redemptions and originations at its lending business amid a liquidity crunch.
Temasek is now preparing to write off the entire amount, one of the people said, asking not to be identified as the matter is private. Another backer, Sequoia Capital, wrote down the full value of its $214 million bet on the exchange, while a person with knowledge of the situation said SoftBank Group Corp. is expecting a loss of around $100 million on its investment.Sam Bankman-Fried’s collapsed crypto exchange FTX is now one of the world’s biggest holders of the token Ether.
Novogratz was speaking at a conference on Wednesday alongside Binance Holdings Ltd.’s Chief Executive Officer Changpeng ‘CZ’ Zhao. The Binance CEO said he saw a lot of investor
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