DeFi Pushes ETH Loans at Genesis to New Highs as BTC Rates Drop
ETH loans now make up 27% of Genesis’ loan book, as hedge funds get more comfortable with DeFi.
The investment was led by 10T Holdings and Morgan Creek Capital Management and included contributions from new and existing investors.
As MakerDAO rolls out real estate loans, banking regulators are unlikely to ignore DeFi banks, our columnist says.
Kingsway Capital, Coinbase Ventures, Susquehanna and other investors also participated in the Series A round.
The investment is the first foray into Asia's crypto finance industry for Zoo, BAI Capital and Tiger Global Management.
The Ethereum-based lending startup is seeing users take out crypto loans for more than just yield farming.