Genesis receives additional equity infusion of $140M following recent market events

Genesis trading announced on Nov. 10 that it will receive an additional equity infusion of $140M from its parent company, Digital Currency Group. According to the company, this decision was made to “strengthen its balance sheet” and boost its “position as a global leader in crypto capital markets”.

Genesis said it also hopes that the equity infusion will put its company in a position to support its clients and “the growing demand” for its services. This is according to a snapshot of a letter sent to their clients, as shared by Wu Blockchain on their Twitter account. Genesis sent letters to clients stating that it had obtained an additional equity infusion of $140M from parent company, Digital Currency Group. Genesis, with $175 million locked in FTX, is also the largest creditor to Three Arrows Capital Babel Finance.

If someone starts investigating all the exposed “wrapped” tokens/coins and their liquidity, across the several platforms, that will be the “tip of the iceberg” and nearly all exchanges will collapse. GET YOUR MONEY OFF EXCHANGES!

They’re fine not contagious

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Crypto Investment Firm DCG Gives $140M Equity Infusion to Trading Firm Genesis.DCGco has provided one of its portfolio companies, Genesis, with a $140 million equity infusion after the trading firm said this week that its derivative business has about $175 million in locked funds in its FTX account. mikeybellusci reports DCGco mikeybellusci Rekt DCGco mikeybellusci MARCIANOPHONE 🥶🥶🥶🥶
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Trading firm Genesis to get $140 million equity infusion from parent company DCGCrypto trading firm Genesis will get a $140 million equity infusion from DCG. Its derivatives business currently has $175 million frozen on the FTX platform. bailout
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