Loan Originations And Trading Volumes At Genesis Dropped Significantly
Genesis, a crypto company, reported a significant fall in loan originations and trading volumes in the third quarter of the year, following several rocky months for the crypto market highlighted by bankruptcy and collapse at a number of prominent enterprises.
Loan origination and spot trading volumes at cryptocurrency business Genesis fell in the third quarter. The company said:
“Heading into the fourth quarter, the cryptocurrency market is lacking directional momentum as participants are taking stock after a beleaguering summer of endless negative headlines. Genesis remains prepared for a sustained crypto winter in light of such powerful macro headwinds.”
Loan originations at Genesis fell to $8.4 billion in the third quarter of the year, which lasted from July 1 to September 30. This is a 79% decrease from the previous quarter’s loan originations of $40.4 billion.
The company also experienced a modest drop in trade volumes. Spot trade fell 44% from $17.2 billion in the second quarter to $9.6 billion in the third.
As CoinCu reported, Michael Patchen, the company’s previous Chief Risk Officer, left in October.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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Loan Originations And Trading Volumes At Genesis Dropped Significantly
Genesis, a crypto company, reported a significant fall in loan originations and trading volumes in the third quarter of the year, following several rocky months for the crypto market highlighted by bankruptcy and collapse at a number of prominent enterprises.
Loan origination and spot trading volumes at cryptocurrency business Genesis fell in the third quarter. The company said:
“Heading into the fourth quarter, the cryptocurrency market is lacking directional momentum as participants are taking stock after a beleaguering summer of endless negative headlines. Genesis remains prepared for a sustained crypto winter in light of such powerful macro headwinds.”
Loan originations at Genesis fell to $8.4 billion in the third quarter of the year, which lasted from July 1 to September 30. This is a 79% decrease from the previous quarter’s loan originations of $40.4 billion.
The company also experienced a modest drop in trade volumes. Spot trade fell 44% from $17.2 billion in the second quarter to $9.6 billion in the third.
As CoinCu reported, Michael Patchen, the company’s previous Chief Risk Officer, left in October.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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