Genesis Doubles Crypto Loan Issuance for the Third Quarter to $5.2 Billion

Genesis Doubles Crypto Loan Issuance for the Third Quarter to $5.2 Billion

Crypto lender Genesis provided $5.2 billion in new loans in the third quarter of 2020, more than double its previous record of $2.2 billion in the preceding quarter. Issued to corporate borrowers such as hedge funds and trading firms, the loans are mainly denominated in bitcoin (BTC), ether (ETH), bitcoin cash (BCH), and cash. According to the U.S. company’s Q3 Digital Asset Report shared with on Oct. 30, Genesis grew its active loans outstanding 50% to $2.1 billion from $1.4 billion in the second quarter. Altogether, Genesis has processed a total of $13.6 billion....

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