• Market Cap: $3,908,791,976,976.65
  • 24h Vol: $248,216,734,202.92
  • BTC Dominance: 60.39%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Genesis Trading CEO confirms 3AC exposure, parent company helps plug losses

Jon Hartney by Jon Hartney
July 7, 2022
in Bitcoin, Blockchain, Business, Market
0
Genesis Trading CEO confirms 3AC exposure, parent company helps plug losses
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Genesis Trading soldiers on after confirming 3AC exposure, while parent company Digital Currency Group assumes a portion of liability after losses.

Digital Currency Group’s market maker and lending firm Genesis Trading has confirmed that it had investment exposure in the now-liquidated Three Arrows Capital (3AC).

The insolvency and subsequent liquidation order of the embattled company sent shockwaves through the cryptocurrency space last week amid an ongoing downturn across crypto markets. A major talking point was the stake other prominent companies had in the now-defunct cryptocurrency hedge fund and the ongoing fallout.

Related articles

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

July 17, 2025
Memecoin market cap grows 29% in July

Memecoin market cap grows 29% in July

July 17, 2025

Genesis Trading is among prominent lending firms that had exposure to 3AC, which has now been confirmed by CEO Michael Moro. The company’s chief said the firm had managed to mitigate losses after 3AC had failed to meet a margin call on capital borrowed from Genesis.

1/ As part of our goal in providing transparency to the market, I wanted to share the latest update at @GenesisTrading.

— Michael Moro (@michaelmoro) July 6, 2022

While Moro stopped short of revealing how much it had lent to 3AC, he unpacked the terms of the firm’s loan to the hedge fund and the subsequent chain of events after the debtor failed to meet its repayment obligations:

“The loans to this counterparty had a weighted average margin requirement of over 80%. Once they were unable to meet the margin call requirements, we immediately sold collateral and hedged our downside.”

Related: The crypto industry needs a crypto capital market structure

Genesis Trading’s parent company Digital Currency Group has assumed some of the liability owed by 3AC in order to ensure Genesis has adequate capital to continue its operations. The firm will continue to explore options to try and recoup losses in the wake of 3AC’s collapse.

Reports suggest that Genesis is facing losses in the hundreds of millions of dollars while the company is yet to disclose the details of its exposure to 3AC. Cointelegraph has reached out to the market maker for comment.

Voyager Digital was another casualty of 3AC’s collapse as the cryptocurrency exchange was forced to postpone trading, deposits and withdrawals at the start of Jul. The hedge fund failed to repay a 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) loan to the American exchange.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

by Jon Hartney
July 17, 2025
0

Bitcoin dominance charts moving downward may be a signal that the

Memecoin market cap grows 29% in July

Memecoin market cap grows 29% in July

by Jon Hartney
July 17, 2025
0

Memecoin market cap hits $72B in July, driven by the Bonk memecoin’s 72%

Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

by Jon Hartney
July 17, 2025
0

After rising rapidly over the weekend to hit new all-time highs, the Bitcoin price seems to have hit a brick...

Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy

Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy

by Jon Hartney
July 17, 2025
0

Bilal Bin Saqib met El Salvador’s President Nayib Bukele to discuss Bitcoin

World Liberty Financial Token Proposal Garners Massive 99% Support

World Liberty Financial Token Proposal Garners Massive 99% Support

by Jon Hartney
July 17, 2025
0

Holders of the World Liberty Financial token, WLFI, have voted overwhelmingly to make these tokens tradable, a decision that could...

Load More
  • Trending
  • Comments
  • Latest
SUI Price Hits All-Time High – But Questions About Valuation Remain

SUI Price Hits All-Time High – But Questions About Valuation Remain

October 17, 2024
Solana Targets $160 Resistance As TVL Hits New Yearly Highs

Solana Targets $160 Resistance As TVL Hits New Yearly Highs

October 17, 2024
Bitcoin Price Holds Firm: Can It Power Toward New Gains?

Bitcoin Price Holds Firm: Can It Power Toward New Gains?

October 17, 2024
Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

October 17, 2024
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows

July 17, 2025
Memecoin market cap grows 29% in July

Memecoin market cap grows 29% in July

July 17, 2025
Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

July 17, 2025
Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy

Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy

July 17, 2025

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • 3 charts scream ‘It’s altcoin season’ as Bitcoin dominance hits 8-week lows July 17, 2025
  • Memecoin market cap grows 29% in July July 17, 2025
  • Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops July 17, 2025
  • Pakistan’s crypto minister, El Salvador’s president discuss Bitcoin strategy July 17, 2025
  • World Liberty Financial Token Proposal Garners Massive 99% Support July 17, 2025

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • Steakhouse EURCV Morpho VaultSteakhouse EURCV Morpho Vault(STEAKEURCV)$0.000000-100.00%
  • FibSwap DEXFibSwap DEX(FIBO)$0.0084659.90%
  • TruFin Staked APTTruFin Staked APT(TRUAPT)$8.020.00%
  • bitcoinBitcoin(BTC)$84,372.003.58%
  • ethereumEthereum(ETH)$1,885.365.68%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.186.84%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • binancecoinBNB(BNB)$617.995.03%
  • Wrapped SOLWrapped SOL(SOL)$143.66-2.32%
  • solanaSolana(SOL)$128.974.23%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.1736117.78%
  • cardanoCardano(ADA)$0.687.61%
  • tronTRON(TRX)$0.2342340.79%
  • staked-etherLido Staked Ether(STETH)$1,884.065.48%
  • Gaj FinanceGaj Finance(GAJ)$0.0059271.46%
  • Content BitcoinContent Bitcoin(CTB)$24.482.55%
  • USD OneUSD One(USD1)$1.000.11%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$84,309.003.84%
  • ToncoinToncoin(TON)$4.157.66%
  • UGOLD Inc.UGOLD Inc.(UGOLD)$3,042.460.08%
  • ParkcoinParkcoin(KPK)$1.101.76%
  • chainlinkChainlink(LINK)$14.027.76%
  • leo-tokenLEO Token(LEO)$9.211.17%
  • stellarStellar(XLM)$0.2743585.70%
  • avalanche-2Avalanche(AVAX)$19.647.71%
  • Wrapped stETHWrapped stETH(WSTETH)$2,256.395.40%
  • USDSUSDS(USDS)$1.00-0.01%
  • SuiSui(SUI)$2.429.03%
  • shiba-inuShiba Inu(SHIB)$0.0000137.71%
  • hedera-hashgraphHedera(HBAR)$0.17284810.00%
  • Yay StakeStone EtherYay StakeStone Ether(YAYSTONE)$2,671.07-2.84%
  • polkadotPolkadot(DOT)$4.257.34%
  • litecoinLitecoin(LTC)$85.265.04%
  • bitcoin-cashBitcoin Cash(BCH)$314.248.23%
  • mantra-daoMANTRA(OM)$6.301.94%
  • Pundi AIFXPundi AIFX(PUNDIAI)$16.000.00%
  • PengPeng(PENG)$0.60-13.59%
  • Bitget TokenBitget Token(BGB)$4.664.95%
  • wethWETH(WETH)$1,884.285.66%
  • Ethena USDeEthena USDe(USDE)$1.00-0.04%
  • Binance Bridged USDT (BNB Smart Chain)Binance Bridged USDT (BNB Smart Chain)(BSC-USD)$1.00-0.18%
  • MurasakiMurasaki(MURA)$4.23-13.71%
  • Black PhoenixBlack Phoenix(BPX)$3.351,000.00%
  • Pi NetworkPi Network(PI)$0.714.53%
  • HyperliquidHyperliquid(HYPE)$13.729.80%
  • Wrapped eETHWrapped eETH(WEETH)$2,003.675.53%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$28.350.76%
  • moneroMonero(XMR)$217.841.31%
  • Zypto TokenZypto Token(ZYPTO)$0.037139-3.47%
  • uniswapUniswap(UNI)$6.217.66%
  • AptosAptos(APT)$5.395.79%
  • PepePepe(PEPE)$0.00000811.37%
  • daiDai(DAI)$1.00-0.01%
  • nearNEAR Protocol(NEAR)$2.635.26%
  • XT.comXT.com(XT)$3.08-1.65%
  • Layer One XLayer One X(L1X)$23.35454.66%
  • sUSDSsUSDS(SUSDS)$1.050.05%
  • okbOKB(OKB)$48.762.12%
  • gatechain-tokenGate(GT)$22.883.58%
  • crypto-com-chainCronos(CRO)$0.1015853.46%
  • Coinbase Wrapped BTCCoinbase Wrapped BTC(CBBTC)$84,342.003.68%
  • MantleMantle(MNT)$0.814.44%
  • Tokenize XchangeTokenize Xchange(TKX)$33.460.86%
  • internet-computerInternet Computer(ICP)$5.517.85%
  • ethereum-classicEthereum Classic(ETC)$17.074.81%
  • OndoOndo(ONDO)$0.817.47%
  • First Digital USDFirst Digital USD(FDUSD)$1.00-0.12%
  • aaveAave(AAVE)$168.6110.19%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • Ethena Staked USDeEthena Staked USDe(SUSDE)$1.170.30%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • Official TrumpOfficial Trump(TRUMP)$10.354.36%
  • vechainVeChain(VET)$0.0233636.04%
  • cosmosCosmos Hub(ATOM)$4.538.09%
  • fantomFantom(FTM)$0.70-1.56%
  • BittensorBittensor(TAO)$231.277.72%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • EthenaEthena(ENA)$0.3616194.37%
  • render-tokenRender(RENDER)$3.6710.91%
  • filecoinFilecoin(FIL)$2.927.72%
  • CelestiaCelestia(TIA)$3.181.75%
  • Black AgnusBlack Agnus(FTW)$0.000183423.46%
  • Lombard Staked BTCLombard Staked BTC(LBTC)$84,465.004.02%
  • POL (ex-MATIC)POL (ex-MATIC)(POL)$0.2063993.13%
  • KaspaKaspa(KAS)$0.0682239.38%
  • STAUSTAU(STAU)$0.17397910.95%
  • FasttokenFasttoken(FTN)$4.020.01%
  • Sonic (prev. FTM)Sonic (prev. FTM)(S)$0.5212.98%
  • algorandAlgorand(ALGO)$0.1896979.65%
  • ORA CoinORA Coin(ORA)$4.885.92%
  • ArbitrumArbitrum(ARB)$0.3397526.22%
  • Arbitrum Bridged USDT (Arbitrum)Arbitrum Bridged USDT (Arbitrum)(USDT)$1.000.07%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • kucoin-sharesKuCoin(KCS)$11.231.19%
  • Solv Protocol SolvBTCSolv Protocol SolvBTC(SOLVBTC)$84,076.003.32%
  • fetch-aiArtificial Superintelligence Alliance(FET)$0.4856098.68%
  • optimismOptimism(OP)$0.776.43%
  • StoryStory(IP)$4.75-2.68%