An exchange where regularly earn with various investment products and internal bots. Genesis had exposure to FTX of at least $175 million, coming via its derivatives trading business. Win 1 Bitcoin Copy Moonin Papas Signal DCA. Genesis is now reportedly working with investment bank Moelis & Co about potential financing options according to the newspaper, and it was reported earlier this month that the lender attempted to raise $1 billion as part of attempts to avoid the “liquidity crunch” which forced it to stop withdrawals.
The move came directly after Genesis suspended redemptions for customers and new loans due to "abnormal withdrawal requests" following the FTX collapse on the same day. The exchange attributed the move to “unprecedented market turmoil”. J(Friday) There are three important updates for Earn users this week: On Tuesday, we wrote about the proposed Plan that Genesis filed in an effort to keep its confirmation schedule (see below). Along with this exciting addition, Gemini customers are now collectively earning interest on more than 2 billion in loans originated through Gemini Earn. Gemini, which Cameron and Tyler Winklevoss founded in 2015, told users it would be pausing withdrawals from Gemini Earn on November 16, and has yet to provide any clarity as to when they are expected to be reopened. Today, we are thrilled to announce that you can now earn 2.25 APY on Dogecoin (DOGE) held at Gemini. The Gemini Earn service has experienced severe disruption since the FTX contagion began at the start of last month.
$0.00038582 -1.99% Terra Classic (Wormhole)Īccording to the FT, Gemini is working as part of a creditors’ committee to regain the funds from Genesis and DCG.
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