$100M+ in Margin Calls: Crypto Lenders Demand Collateral as Market Buckles
“As of five minutes ago, everyone who needed to post collateral has,” Genesis CEO Michael Moro said Friday afternoon.
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.
The firm’s earlier investment in a travel app starts making sense.
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.