Category: Genesis

Genesis quarterly report shows ‘relentless’ demand for dollars in crypto credit market

Since Genesis Global Trading launched a lending business in 2018, it has originated more than $40 billion loans — and that growth doesn’t appear to be slowing down.  The firm, which releases a breakdown of its business across trading, lending, and derivatives every quarter, saw active loans outstanding on its platform increase 136% relative to […]

Continue Reading

Canaan to Sell $93 Million in Next-Generation Bitcoin Miners to Genesis Digital Assets

The ASIC bitcoin mining rig manufacturer and chipmaker, Canaan has announced the company has signed a $93.63 million purchase order with the mining firm Genesis Digital Assets. Genesis will be acquiring Canaan’s A1246 Avalonminer rigs that produce 90 terahash per second (TH/s) and deliveries will be shipping during the second half of 2021. Canaan and […]

Continue Reading

A Washington DC insider lays out her vision for the bitcoin market’s first self-regulatory organization

Michelle Bond has been focused on financial regulation for decades, and a turn to crypto policy a few years ago led her to take the helm at the Association for Digital Assets Markets by the end of 2020. ADAM is a trade association for crypto markets, featuring a code of conduct that requires its members […]

Continue Reading

Genesis clocked in $8 billion in spot volumes, originated $7.6 billion in loans during Q4

Genesis clocked in $8 billion in spot volumes, originated $7.6 billion in loans during Q4

Business boomed for one of the largest trading and lending firms in the crypto market during the final quarter of 2020. According to Genesis Global Trading’s most recent quarterly report, the New York-based firm saw “a new wave” of institutional players — spanning banks, private equity firms, and investors — drive growth, with the firm […]

Continue Reading

Genesis Custody added to FCA’s temporary crypto register

Genesis Custody added to FCA’s temporary crypto register

The custody-focused arm of Genesis, a crypto firm offering services to institutional traders, has been added to the UK regulator’s interim register. Genesis Custody Limited had initially been left off the list of roughly 90 companies, meaning it would have had to cease trading on January 10. The Financial Conduct Authority unveiled its temporary registration […]

Continue Reading

Genesis tells customers it will suspend XRP trading and lending

Genesis tells customers it will suspend XRP trading and lending

Genesis users woke up to an email today informing them that the firm had suspended XRP trading and lending. The email, which was verified by The Block, said that the digital asset lender had made the move, effective December 29, as a precautionary measure. “Our team is actively monitoring the evolving regulatory situation with XRP,” […]

Continue Reading

Genesis Sends Out Email Informing Customers About Suspending XRP Trading & Lending

Genesis Trading, a popular crypto trading, and lending platform sent out a cautionary email to its customers informing them that they are halting XRP trading and lending services owing to the SEC security lawsuit against Ripple and two of its executives. The trading platform informed the customers on its platform that they have suspended all […]

Continue Reading

Coinbase, Genesis and BitGo are all talking to Wall Street’s biggest banks about crypto custody

Coinbase, Genesis and BitGo are all talking to Wall Street’s biggest banks about crypto custody

Quick Take Crypto’s prime brokers are expanding their businesses as more traditional investors eye crypto. Firms like BitGo, Coinbase, and Genesis Global are courting publicly traded companies, macro funds, and fintech firms with their services.  They’re also having conversations with Wall Street’s large banks.  This feature story is available to subscribers of The Block Daily. […]

Continue Reading