Tag: genesis trading

Aug 30 2022

Galaxy Digital And Genesis Trading Top Officials File For $500 Million Crypto Fund

Summary: A new SEC filing revealed a $500 million crypto fund dubbed DBA Crypto Fund I LP. Top executives from Convex, Galaxy, and Genesis spearhead the fund, per details from the filing. The massive fund could serve as an extra lifeline for Galaxy Digital and Genesis Trading. Both firms recently recorded hefty losses following a slump in crypto asset prices and exposure to...

Aug 17 2022

Genesis CEO Steps Down as Firm Cuts 20% of Staff

Institutional crypto broker Genesis Global Trading has announced that its CEO Michael Moro is resigning and it will be cutting 20% of its workforce. The move marks further fallout from...

Genesis CEO Michael Moro Steps Down Amid 20% Staff Cuts And 3AC Losses

Summary: Michael Moro has left his role as the CEO of beleaguered crypto broker Genesis. Moro's exit was announced alongside a 20% cut in the company's workforce. Some 52 employees out of 260 staff are expected to leave Genesis starting Wednesday. Chief Operating Officer Derar Islim was appointed interim CEO as part of an ongoing restructuring plan. The crypto broker previously disclosed its...

Jul 19 2022

3AC Owes $2.36 Billion To Crypto Lender Genesis

Jul 19 2022 Published at Coingape under tags  3ac debt defi genesis genesis trading

According to a news report by crypto news site The Block, It has been found that Genesis Asia Pacific Ltd, lent a sum of $2.36 billion to troubled and now bankrupt venture capital Three Arrows Capital (3AC). A freshly released document by Teneo, an advisory firm hired to oversee 3AC’s liquidation, has shown the exact...

Jul 18 2022

Three Arrows Capital Owes Genesis Trading $2.36B – Report

Summary: Genesis Trading allegedly lent Three Arrows Capital $2.36 billion. Estimates had earlier put Genesis Trading's losses due to exposure to Three Arrows Capital in the 'hundreds of millions.' Three Arrows Capital's bankruptcy claims have halted Genesis Trading's attempts to recover the funds from Three Arrows Capital. The crypto lending firm Genesis Trading allegedly lent the embattled crypto hedge fund Three Arrows Capital...

Jun 18 2022

Genesis Trading May Have Also Liquidated Three Arrows, Here’s Why

Jun 18 2022 Published at Coingape under tags  genesis trading michael moro news

Genesis Trading CEO Michael Moro said the company has liquidated positions in a large counterparty that failed to meet a margin call earlier this week. Moro thinks it's important for any company to provide transparency in such critical times when the market is in FUD. Although Genesis's CEO didn't disclose details about the counterparty, he...

Jun 17 2022

Genesis Trading Confirms “Large Counterparty” Liquidation Amid 3AC Crisis

The update comes as the celebrated crypto hedge fund Three Arrows Capital faces its biggest liquidity crisis to date. Genesis Trading Says It Liquidated Counterparty Genesis Trading has confirmed that...

Dec 30 2020

Genesis Ceases Support for XRP Trading, Custody and Loans

Although Ripple will contest the charges, the legal battle with the SEC could take years if the firm fights the charge in court

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