Genesis’ Crypto Lending Rebounds in 2Q; Firm Acknowledges Unsecured Loans
Genesis’ crypto lending arm came back strong in 2Q after a rocky 1Q. Separately, executives acknowledged the firm makes some uncollateralized loans.
Signs point to a new avenue of growth for crypto-backed lending.
ETH loans now make up 27% of Genesis’ loan book, as hedge funds get more comfortable with DeFi.
Securitize will issue digital asset securities for two inaugural yield funds holding BTC and USDC separately.
Genesis is cutting bitcoin deposit rates effective Thursday, following BlockFi's reduction last week.
Genesis Trading saw the share of bitcoin in its loan portfolio drop, mainly due to demand for liquidity mining on DeFi protocols.