Following the recent collapse of FTX, the fallout spread to Genesis, which had already been bailed out by parent company Digital Currency Group (DCG) earlier this year following the failure of Three Arrows Capital. There are growing concerns over the possibility of the contagion spreading to Greyscale Bitcoin Trust and Digital Currency Group but are … Read more
Circle, the company that runs and issues USDC has dropped their Circle Yield product APY rate to 0%. Back in June I wrote about my anxieties around Circle. Oh hey, what’s that? Genesis and its yield product customers are exposed to the credit risk of Genesis? And Genesis loaned $2.3bn to 3AC? Well I for … Read more
Rumors surfaced Friday night that Coinbase could face liquidity issues following leaked emails stating that it would suspend its affiliate program. Business Insider reported that they received emails stating; “This has not been an easy decision, nor was it made lightly, but, due to crypto market conditions and the outlook for the remainder of 2022, … Read more