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Genesis loan originations down 79% during crypto winter

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Oct 29 (The Block) - Following many turbulent months for the cryptocurrency market defined by bankruptcies and collapses at a number of large companies, crypto firm Genesis reported a sharp fall in its loan originations and trading volumes in the third quarter of the year.

In the third quarter of the year, which ran from July 1 to September 30, Genesis' loan originations decreased to $8.4 billion. From loan originations of $40.4 billion in the preceding quarter, that represents a 79% decrease. An inquiry for comment from Genesis was not answered.

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