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Genesis Global Trading
Gemini Escalates Dispute with DCG's Genesis; Coinbase Shares Jump Following Layoff Announcement
Crypto exchange Gemini is ramping up its dispute with Digital Currency Group's (DCG) Genesis Global Trading – its partner on a crypto lending product pitched to smaller investors – by terminating a key aspect of their relationship. CoinDesk and Genesis are both owned by parent company DCG. Plus, Coinbase (COIN) shares are on the rise after the crypto exchange announced plans to layoff roughly 20% of its workforce.

More Time Is Needed To Sort Out Finances, Genesis’ CEO Tells Clients
"The Hash" panel discusses the latest developments for Genesis Global Trading, as its interim CEO told clients it needs more time to sort out its tricky financial position. This comes as Gemini co-founder Cameron Winklevoss blasted DCG CEO Barry Silbert for "bad faith stall tactics." Genesis and CoinDesk share the same parent company, Digital Currency Group (DCG).

Genesis Creditors Hire Lawyers to Help Prevent Bankruptcy Filing: Bloomberg
Genesis Global Trading's creditors have hired restructuring lawyers to help find a way prevent the crypto brokerage from having to file for bankruptcy, Bloomberg News reported on Wednesday, citing people with knowledge of the situation. "The Hash" hosts discuss the outlook for Genesis.

CoinFund President on FTX Contagion Fears
According to a Bloomberg report, Genesis Global Trading is in talks with potential investors for at least $1 billion in fresh capital. CoinFund President Chris Perkins discusses the state of the crypto industry as it continues to suffer ripple effects from the collapse of crypto exchange FTX. Genesis and CoinDesk are both owned by the Digital Currency Group.

CoinFund President on FTX Contagion Concerns, Bailout Speculation
"We're not expecting any bailouts here," CoinFund President Chris Perkins says on the continued contagion spreading throughout the crypto industry this year. Perkins, who was on the floor when Lehman Brothers went bankrupt, shares his perspective on the reported bankruptcy jitters regarding Genesis Global Trading, CoinDesk's sister company.

Temasek to Write Off up to $300M Invested in FTX; House Committee to Hold Hearing on FTX Collapse
Genesis Global Trading's lending arm is temporarily suspending redemptions and new loan originations. Singapore's state investment fund Temasek is preparing to write off between $200 million and $300 million invested in FTX. The House Financial Services Committee will hold a hearing into FTX next month. Sam Bankman-Fried, Tom Brady and other FTX promoters have been sued. Genesis and CoinDesk both operate under Digital Currency Group.

Genesis’ Crypto-Lending Unit Pauses Customer Withdrawals Amid FTX Collapse
The lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse, Interim CEO Derar Islim told customers on a call Wednesday. Genesis owner Digital Currency Group is also the parent company of CoinDesk. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De weighs in.

Genesis’ Joshua Lim on Separating Major Cryptos From Altcoins
Genesis Global Trading Head of Derivatives Trading Joshua Lim discusses the differences of trading bitcoin, ether, and altcoins at #Concensus2022. Plus, the reason why it’s necessary to separate the major cryptos from altcoins.

Genesis’ Joshua Lim on How Institutions Will Make It Through the Cycle
Genesis Global Trading Head of Derivatives Trading Joshua Lim discusses the institutions' strategies in a market downturn at #Concensus2022.

Bitcoin Defends $30K as ECB Preps First Rate Hike in More Than a Decade
Genesis Global Trading Head of Derivatives Trading Joshua Lim and BlockFi SVP and Global Head of Institutional Distribution David Olsson discuss their outlook on crypto as bitcoin hovers around $30,000.
