{"id":36508,"date":"2023-01-12T09:46:06","date_gmt":"2023-01-12T09:46:06","guid":{"rendered":"https:\/\/lydian.io\/?p=36508"},"modified":"2023-01-12T09:46:06","modified_gmt":"2023-01-12T09:46:06","slug":"genesis-receives-an-additional-140-million-capital-injection-following-recent-market-events","status":"publish","type":"post","link":"https:\/\/lydian.io\/genesis-receives-an-additional-140-million-capital-injection-following-recent-market-events\/","title":{"rendered":"Genesis receives an additional $140 million capital injection following recent market events","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
<\/p>\n
Genesis Buying and selling introduced on November tenth that it'll obtain a further capital injection of $140 million from its guardian firm, Digital Foreign money Group. In response to the corporate, this determination was made to \u201cstrengthen its stability sheet\u201d and strengthen its \u201cplace as a world chief in crypto capital markets.\u201d<\/p>\n
Genesis stated it additionally hopes the capital injection will place its firm to help its clients and \"the rising demand\" for its providers. This emerges from a snapshot of a letter despatched to its clients and shared by Wu Blockchain on its Twitter account. <\/p>\n
Genesis despatched letters to clients explaining that it acquired a further fairness infusion of $140 million from guardian firm Digital Foreign money Group. Genesis can be the biggest creditor of Three Arrows Capital Babel Finance with $175 million in FTX. pic.twitter.com\/d77QCODdsf<\/a><\/p>\n \u2014 Wu Blockchain (@WuBlockchain) November 11, 2022<\/a><\/p>\n On Oct. 10, Genesis buying and selling revealed that its derivatives enterprise had locked round $175 million price of funds in an FTX buying and selling account. Though FTX is going through a \"liquidity disaster\" and not too long ago filed for chapter, Genesis assured its purchasers that the thousands and thousands of {dollars} locked up in FTX wouldn't have an effect on its market-making actions. <\/p>\n As a part of our objective of offering transparency on this week's market occasions, the Genesis derivatives enterprise at the moment has ~$175 million in locked funds in our FTX buying and selling account. This doesn't have an effect on our market making actions.<\/p>\n