FTX contagion in S.Korea: GOPAX halts Genesis-backed DeFi

South Korean crypto exchange GOPAX has halted the withdrawal of principal and interest payments in its decentralized finance (DeFi) service GOFi, which brokers products from global crypto lender Genesis Global Capital, LLC., the exchange announced on Thursday in Asia. The suspension at GOFi is prompted by partner Genesis Global Capital, which halted redemptions and new loan originations at lending arm Genesis Global Trading, GOPAX said in its announcement. (forkast)

Original Link

Comments

All Comments

Recommended for you

Xangle ·

What sets Sei Apart?

Sei has recently emerged as a topic of interest in the crypto market. Various communities and renowned researchers are jumping into the discussion of Sei, bringing it into the spotlight. Is this attention due to Sei's genuine merit as a project, or i
Xangle ·

Blockchain & AI, Are They A Win-Win?

In March 2024, the price of Bitcoin surged, surpassing its peak from 2022. This bullish trend is attributable to factors such as the approval of Bitcoin spot ETFs, institutional capital inflow, the upcoming Bitcoin halving in April
ONEBIT ·

Bitcoin Halving: Interpreting Industry Changes and Opportunities

Bitcoin Halving: Interpreting Industry Changes and Opportunities
Cointime精选 ·

Bitcoin’s 4th Halving

Significance of the bitcoin halving, impact on miner economics and BTC price
Chainlink ·

Chainlink Digital Asset Insights: Q1 2024

The Web3 ecosystem has recently seen a dramatic rise in activity through total value locked in decentralized finance (“DeFi”), volumes on decentralized exchanges (“DEXs”), and stablecoin activity (see the Appendix). Looking at the first quarter of the year, we examine prominent events in the space, including:
Cointime精选 ·

Status Monkeys

Analyzing NFTs as Social Networks Using the Status-as-a-Service Framework
Cointime精选 ·

It’s 2024 and there still aren’t enough blockchain developers.

Why are there still up to ~1,000X less blockchain devs compared to other verticals like web development?
Cointime精选 ·

New Opportunities in the Farcaster Stack

We’re seeing the emergence of a new social graph in real-time: Farcaster. Up until two weeks ago, today’s most popular client (Warpcast) looked, at face value, similar to a Twitter clone. Then the team launched Frames and it kicked off a wave of growth as it became clear that Farcaster’s permissionless infrastructure enables a new distribution channel.
Cointime精选 ·

Art in the Age of Crypto Reproduction

Aura, value, and politics in the age of crypto art
Cointime精选 ·

Bitcoin Valuation by Savings Adoption

A mid-term approach to price modelling Bitcoin is something entirely new, something never before observed. Because of this, many of the trusted tools in our financial toolkits might simply not do a very good job of modelling its performance, and it’s causing apprehension among analysts who are used to deploying certain modelling tools to make sense of asset pricing.