Genesis, which put $25 million into Circle, was the driving force behind Circle’s Yield product, as noted by Ed Zitron, CEO of the media relations firm EZPR.
In a post he published in June, ZItron expressed his concerns about Circle, citing a statement from the company that admitted their exposure “to credit risk” due to their relationship with Genesis, the same Genesis that had previously lent Three Arrows Capital (3AC) $2.3 billion.
On November 16, Circle made a statement on its official Twitter account outlining their overcollateralized fixed-term yield product, the $2.6 million in loans still outstanding, and their assurance that the loans were still protected from possible losses.
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
Annie
CoinCu News
Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire
Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…
As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…
With the crypto market reaching new peaks, many are eager to discover digital currencies poised…
XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…
Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…
This website uses cookies.