Genesis Clocks Quarterly Surge in Cash and Stablecoin Lending
For the first time this year, BTC-denominated loans now represent less than 60 percent of Genesis' portfolio.
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.
Traditional 60/40 portfolio allocations to equities and bonds is doing a disservice to savers. It’s time for a new type of hedge.
“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.