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Genesis reports losses of around $7 million after hedging against market volatility

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Crypto trading and lending firm Genesis Trading reported losses of around $7 million 'across all counterparties' after it hedged and sold collateral on Tuesday ahead of anticipated market volatility in the wake of a liquidity crunch at FTX.

Crypto exchange Bitmex, which says it has no FTX or Alameda exposure, plans to launch a native crypto token for traders on Friday, regardless of market volatility amid the

collapse of Sam Bankman-Fried’s empire. “We’re sticking to our program,” Salama Belghali, Bitmex’s global head of business development and partnerships said at a conference. “The new […]

 

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