{"id":40086,"date":"2022-11-11T14:11:38","date_gmt":"2022-11-11T18:11:38","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=40086"},"modified":"2022-11-11T14:11:40","modified_gmt":"2022-11-11T18:11:40","slug":"digital-currency-group-grants-equity-infusion-to-genesis","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/digital-currency-group-grants-equity-infusion-to-genesis\/","title":{"rendered":"Digital Currency Group Grants Equity Infusion To Genesis"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-genesis-said-earlier-that-it-has-about-175-million-in-locked-funds-in-its-ftx-trading-account-for-its-derivatives-business\">Genesis said earlier that it has about $175 million in <a href=\"https:\/\/www.google.com\/search?q=Genesis+said+earlier+that+it+has+about+%24175+million+in+locked+funds+in+its+FTX+trading+account+for+its+derivatives+business.&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\">locked funds<\/a> in its FTX trading account for its derivatives business.<\/h5>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"669\" height=\"348\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/11\/image-78.png\" alt=\"Digital Currency Group Grants Equity Infusion To Genesis\" class=\"wp-image-40109\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/11\/image-78.png 669w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/11\/image-78-300x156.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/11\/image-78-150x78.png 150w\" sizes=\"(max-width: 669px) 100vw, 669px\" \/><figcaption class=\"wp-element-caption\">Digital Currency Group Grants Equity Infusion To Genesis<\/figcaption><\/figure>\n\n\n\n<p>Digital Currency Group, a crypto investor, is giving $140 million in new stock to one of the companies it owns, Genesis Global Trading.<\/p>\n\n\n\n<p>&#8220;While recent market events haven't affected how our lending and <a href=\"https:\/\/coinscreed.com\/staging\/ftx-u-s-declares-it-might-stop-trading-on-its-platform.html\" target=\"_blank\" rel=\"noreferrer noopener\">trading<\/a> businesses work, <a href=\"https:\/\/coinscreed.com\/staging\/bis-un-hong-kong-monetary-authority-conclude-project-genesis-2-0.html\" target=\"_blank\" rel=\"noreferrer noopener\">Genesis<\/a> has taken steps to strengthen its balance sheet by getting an additional $140M in equity from our parent company, Digital Currency Group,&#8221; Genesis told clients in an email, referring to the latest drop in the crypto market caused by the collapse of <a href=\"https:\/\/coinscreed.com\/staging\/deribit-crypto-exchange-loses-28m-in-wallet-hack.html\" target=\"_blank\" rel=\"noreferrer noopener\">crypto exchange<\/a> FTX. A DCG spokesman confirmed that the email was real.<\/p>\n\n\n\n<p>In a note to clients, Genesis said, &#8220;This additional capital will strengthen our position as the world's leader in crypto capital markets and allow us to support our clients and the growing demand for our services.&#8221;<\/p>\n\n\n\n<p>Genesis said this week that about $175 million is locked up in its FTX trading account for its derivatives business.<\/p>\n\n\n\n<p>&#8220;This does not change how we make markets,&#8221; the company said in a tweet. Genesis also said that it does not lend money to FTX or Alameda Research, two companies started by entrepreneur <a href=\"https:\/\/coinscreed.com\/staging\/sam-bankman-fried-vitalik-buterin-propose-fix-for-twitter-bot-issues.html\" target=\"_blank\" rel=\"noreferrer noopener\">Sam Bankman-Fried<\/a> that have been in a free fall since a news report last week raised questions about Alameda's backing.<\/p>\n\n\n\n<p>DCG is also the company that owns CoinDesk, which runs as a separate subsidiary.<\/p>\n\n\n\n<p>The Block was the first to tell the news about the equity infusion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Genesis said earlier that it has about $175 million in locked funds in its FTX trading account for its derivatives business. Digital Currency Group, a crypto investor, is giving $140 million in new stock to one of the companies it owns, Genesis Global Trading. &#8220;While recent market events haven&#8217;t affected how our lending and trading [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":40109,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6247,778,516],"class_list":["post-40086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dcg","tag-ftx","tag-genesis-digital-assets"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/11\/image-78.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/40086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=40086"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/40086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/40109"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=40086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=40086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=40086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}