Crypto Live News

Genesis Trading And Grayscale To Get Insolvent After FTX ?

Author: Delma Wilson

Delma Wilson right arrow

Author

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

  • author facebook
  • author twitter

After FTX it looks like Genesis Trading, a Crypto brokerage firm is being hit with insolvency issues. Tomorrow morning a call has been scheduled with creditors where Genesis is expected to reveal its connection with Alameda Research and FTX. It is also speculated that the firm will dissolve GBTC and ETHE trust to pay their creditors.

Meanwhile, Autism Capital, a proof-of-stake infrastructure provider has claimed that it’s the Grayscale who controls GBTC and ETHE trusts not Genesis. Genesis Trading has reported that currently it has $175 million in locked funds in its FTX account. Hence, Digital Currency Group (DCG) which controls Genesis and Grayscale has given $140 million in equity to Genesis.

Back to top button