The firm’s earlier investment in a travel app starts making sense.
The average loan size for a first-time lender on the platform is $3.2 million, Genesis said.
Traditional 60/40 portfolio allocations to equities and bonds is doing a disservice to savers. It’s time for a new type of hedge.
Genesis’ crypto lending arm came back strong in 2Q after a rocky 1Q. Separately, executives acknowledged the firm makes some uncollateralized loans.
Crypto lender Genesis Capital increased its loan book to $649 million during a tumultuous Q1 marked by wild fluctuations in the price of bitcoin.
“As of five minutes ago, everyone who needed to post collateral has,” Genesis CEO Michael Moro said Friday afternoon.
A lukewarm U.S. economy is making big banks like JPMorgan Chase struggle to produce fast loan growth - even with interest rates close to historic lows. Yet, in the white-hot cryptocurrency industry, lenders are burgeoning.
For the first time this year, BTC-denominated loans now represent less than 60 percent of Genesis' portfolio.
Genesis Global Trading's lending business remains on a growth tear, especially its loans of dollars and stablecoins.
Genesis Global Trading's cryptocurrency lending arm continues to grow, even as the number of short sellers dwindles.
Institutional crypto loans provider Genesis Global Capital says it processed more than $1.1 billion in lends and borrows in 2018.
Genesis Global Capital will allow investors to borrow crypto in quantities of $100,000 or more for terms ranging from two weeks to six months.