It’s now apparent that the transfer was insufficient to meet consumer withdrawal demands. As for the next steps, Genesis Global stated:
“We have hired the best advisors in the industry to explore all possible options. Next week, we will deliver a plan for the lending business. We’re working tirelessly to identify the best solutions for the lending business, including among other things, sourcing new liquidity.” Genesis Global also claimed that its spot, derivatives trading and custody businesses remain “fully operational.” In its latest quarterly report, the firm stated that it has $2.8 billion worth of active loans. Since the announcement, its parent company, Digital Currency Group, has clarified that it has no impact on its own operations. However, Genesis Global currently serves as theof the popular $6.7-billion Grayscale Bitcoin Investment Trust .
that the event does not affect the firm’s other products and services and that “all customer funds held on the Gemini exchange are held 1:1 and available for withdrawal at any time.”saying that"all Grayscale products remain safe and secure, held in segregated wallets in deep cold storage by our custodian @Coinbase." The company also claimed its digital asset products are unaffected, and that the firm does not borrow nor lend with custodied assets.
AdA is safe once again.
No amount of market turmoil is justification for halting withdrawals. You hold customer funds 1:1 or your operating a fractional reserve scam.
SBF...was send from WEF to destroy Crypto....next is Tether!!!!
stoolpresidente 👀👀
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